Northcoast Research Weighs in on PPG Industries, Inc.’s FY2017 Earnings (PPG)

PPG Industries, Inc. (NYSE:PPG) – Research analysts at Northcoast Research dropped their FY2017 earnings estimates for PPG Industries in a report issued on Thursday. Northcoast Research analyst K. Hocevar now expects that the specialty chemicals company will post earnings per share of $5.85 for the year, down from their prior forecast of $5.86. Northcoast Research also issued estimates for PPG Industries’ Q4 2017 earnings at $1.15 EPS, Q1 2018 earnings at $1.43 EPS, Q2 2018 earnings at $1.94 EPS, Q3 2018 earnings at $1.75 EPS, Q4 2018 earnings at $1.48 EPS and FY2018 earnings at $6.60 EPS.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 EPS.

Several other equities research analysts have also recently commented on the stock. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $120.00 price objective (up from $110.00) on shares of PPG Industries in a research report on Tuesday, November 28th. They noted that the move was a valuation call. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. Citigroup boosted their price target on shares of PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Robert W. Baird boosted their price target on shares of PPG Industries from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Finally, Bank of America set a $120.00 price target on shares of PPG Industries and gave the stock a “hold” rating in a research report on Friday, October 20th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $119.40.

Shares of PPG Industries (PPG) opened at $115.09 on Friday. The company has a market cap of $29,582.82, a price-to-earnings ratio of 19.74, a P/E/G ratio of 2.32 and a beta of 1.59. PPG Industries has a 52-week low of $93.80 and a 52-week high of $119.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.80 annualized dividend and a yield of 1.56%. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.

PPG Industries declared that its board has authorized a stock repurchase program on Thursday, December 14th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently added to or reduced their stakes in the company. Sullivan Bruyette Speros & Blaney LLC increased its stake in shares of PPG Industries by 0.4% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after purchasing an additional 12 shares during the last quarter. First Interstate Bank increased its stake in shares of PPG Industries by 3.1% during the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 35 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of PPG Industries by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,663 shares of the specialty chemicals company’s stock worth $403,000 after purchasing an additional 54 shares during the last quarter. Cypress Capital Management LLC increased its stake in shares of PPG Industries by 1.0% during the 2nd quarter. Cypress Capital Management LLC now owns 5,556 shares of the specialty chemicals company’s stock worth $611,000 after purchasing an additional 56 shares during the last quarter. Finally, TCI Wealth Advisors Inc. increased its stake in shares of PPG Industries by 1.6% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,931 shares of the specialty chemicals company’s stock worth $432,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 75.09% of the company’s stock.

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PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

Earnings History and Estimates for PPG Industries (NYSE:PPG)

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