PPG Industries (NYSE:PPG) Releases Q2 Earnings Guidance

PPG Industries (NYSE:PPGGet Rating) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.60-1.90 for the period, compared to the Thomson Reuters consensus estimate of $1.89. PPG Industries also updated its Q2 2022 guidance to $1.600-$1.900 EPS.

PPG stock traded up $1.45 during mid-day trading on Thursday, hitting $133.15. The stock had a trading volume of 2,426,185 shares, compared to its average volume of 1,674,059. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. PPG Industries has a 1-year low of $111.32 and a 1-year high of $182.97. The company has a fifty day moving average of $132.26 and a 200 day moving average of $151.04. The stock has a market capitalization of $31.44 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.59 and a beta of 1.22.

PPG Industries (NYSE:PPGGet Rating) last released its quarterly earnings results on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.26. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.24 billion. PPG Industries had a return on equity of 25.70% and a net margin of 8.56%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 EPS. As a group, sell-side analysts expect that PPG Industries will post 7.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. PPG Industries’s dividend payout ratio (DPR) is presently 39.27%.

PPG has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on PPG Industries from $170.00 to $140.00 and set an equal weight rating for the company in a research note on Monday. Barclays dropped their target price on PPG Industries from $185.00 to $175.00 and set an equal weight rating for the company in a report on Tuesday, January 25th. Zacks Investment Research cut PPG Industries from a hold rating to a sell rating and set a $138.00 price target for the company. in a report on Friday, April 1st. Royal Bank of Canada dropped their price target on PPG Industries from $174.00 to $169.00 in a report on Tuesday, January 25th. Finally, Seaport Res Ptn reaffirmed a neutral rating on shares of PPG Industries in a report on Monday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $173.44.

Several large investors have recently bought and sold shares of the company. Heritage Wealth Advisors bought a new position in PPG Industries during the fourth quarter worth about $69,000. Sei Investments Co. lifted its holdings in PPG Industries by 150.2% during the fourth quarter. Sei Investments Co. now owns 20,642 shares of the specialty chemicals company’s stock worth $3,551,000 after acquiring an additional 12,393 shares in the last quarter. Zacks Investment Management bought a new position in PPG Industries during the fourth quarter worth about $369,000. Penserra Capital Management LLC lifted its holdings in PPG Industries by 30.3% during the fourth quarter. Penserra Capital Management LLC now owns 4,175 shares of the specialty chemicals company’s stock worth $719,000 after acquiring an additional 972 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its holdings in PPG Industries by 122.9% during the fourth quarter. NEXT Financial Group Inc now owns 954 shares of the specialty chemicals company’s stock worth $165,000 after acquiring an additional 526 shares in the last quarter. Institutional investors and hedge funds own 78.95% of the company’s stock.

PPG Industries Company Profile (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

See Also

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

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