PPG Industries (NYSE:PPG) Updates Q3 2019 Earnings Guidance

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PPG Industries (NYSE:PPG) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.57-1.67 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.67. PPG Industries also updated its FY 2019 guidance to $6.33-6.51 EPS.

Shares of PPG Industries stock opened at $118.08 on Friday. The company has a market cap of $27.53 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.05 and a beta of 1.23. The company has a quick ratio of 0.97, a current ratio of 1.40 and a debt-to-equity ratio of 0.92. The firm’s 50 day moving average is $115.02. PPG Industries has a 1 year low of $94.37 and a 1 year high of $121.29.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the firm posted $1.90 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts predict that PPG Industries will post 6.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.73%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s payout ratio is presently 32.43%.

A number of equities research analysts have weighed in on the stock. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Buckingham Research boosted their target price on shares of United Continental from $111.00 to $120.00 and gave the stock a buy rating in a report on Tuesday. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a report on Thursday, July 4th. BMO Capital Markets reissued a hold rating and set a $45.00 target price on shares of SAP in a report on Wednesday, May 1st. Finally, Societe Generale assumed coverage on shares of PPG Industries in a report on Tuesday, July 9th. They set a buy rating and a $138.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. PPG Industries has a consensus rating of Buy and a consensus target price of $119.90.

In related news, Director Victoria F. Haynes sold 674 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $107.16, for a total transaction of $72,225.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William E. Schaupp sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total transaction of $267,200.00. Following the transaction, the vice president now owns 4,389 shares in the company, valued at approximately $469,096.32. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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

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