PPG Industries (NYSE:PPG – Get Free Report) announced its earnings results on Tuesday. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.12 by $0.13, FiscalAI reports. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the company posted $2.13 EPS. PPG Industries’s revenue for the quarter was up 6.6% on a year-over-year basis.
PPG Industries Stock Up 3.2%
Shares of NYSE PPG opened at $113.39 on Wednesday. PPG Industries has a 1 year low of $93.39 and a 1 year high of $133.43. The firm’s 50-day moving average is $108.39 and its 200-day moving average is $112.29.
PPG Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.74 per share. The ex-dividend date is Tuesday, November 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%.
PPG Industries News Summary
Here are the key news stories impacting PPG Industries this week:
- Positive Sentiment: PPG reported third-quarter adjusted EPS of $2.25, exceeding the approximately $2.12–$2.13 analyst consensus and increasing from $2.13 in the year-ago quarter. Revenue reached $4.35 billion, topping the $4.28 billion estimate and rising 6.6% year over year. PPG Industries third-quarter earnings report
- Positive Sentiment: The company characterized third-quarter EPS as a record and raised the midpoint of its full-year EPS guidance, signaling management’s increased confidence in profitability. PPG raises full-year EPS guidance
- Positive Sentiment: Multiple reports highlighted the earnings and revenue beats, which can support investor sentiment toward the specialty-chemicals company. PPG tops third-quarter estimates
- Positive Sentiment: Wall Street analysts recently assigned PPG a “Moderate Buy” consensus rating, providing additional support for the stock’s outlook. PPG receives Moderate Buy rating
- Neutral Sentiment: PPG shares crossed above the 200-day moving average, currently around $112.29, while trading near the $113 area. The technical breakout is constructive, although the article questions whether the move could be an opportunity to sell after the earnings-driven advance. PPG shares cross above 200-day moving average
Analyst Ratings Changes
PPG has been the topic of several research reports. BMO Capital Markets reduced their price target on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a report on Monday, September 14th. UBS Group lowered their price objective on shares of PPG Industries from $125.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Royal Bank Of Canada dropped their target price on shares of PPG Industries from $122.00 to $115.00 and set a “sector perform” rating for the company in a research note on Friday, October 9th. Finally, Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.12.
Read Our Latest Report on PPG Industries
About PPG Industries
PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.
Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.
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