Jefferies Financial Group Comments on PPG Industries, Inc.’s Q2 2022 Earnings (NYSE:PPG)

PPG Industries, Inc. (NYSE:PPGGet Rating) – Jefferies Financial Group lifted their Q2 2022 EPS estimates for PPG Industries in a research note issued to investors on Monday, April 25th. Jefferies Financial Group analyst L. Alexander now forecasts that the specialty chemicals company will post earnings per share of $1.70 for the quarter, up from their prior forecast of $1.50. Jefferies Financial Group currently has a “Hold” rating and a $130.00 price objective on the stock. Jefferies Financial Group also issued estimates for PPG Industries’ Q3 2022 earnings at $2.02 EPS, Q4 2022 earnings at $2.21 EPS, FY2024 earnings at $9.50 EPS, FY2025 earnings at $10.15 EPS and FY2026 earnings at $10.80 EPS.

Other research analysts also recently issued research reports about the company. Morgan Stanley lowered their price objective on PPG Industries from $175.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday. StockNews.com started coverage on PPG Industries in a report on Thursday, March 31st. They set a “hold” rating on the stock. Vertical Research cut PPG Industries from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a report on Tuesday, January 4th. Barclays dropped their price objective on PPG Industries from $185.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 25th. Finally, Mizuho decreased their target price on PPG Industries from $187.00 to $182.00 and set a “buy” rating for the company in a research report on Monday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $169.76.

PPG opened at $129.34 on Tuesday. PPG Industries has a twelve month low of $111.32 and a twelve month high of $182.97. The company has a 50-day simple moving average of $131.49 and a 200 day simple moving average of $150.83. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $30.54 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.67 and a beta of 1.22.

PPG Industries (NYSE:PPGGet Rating) last announced its earnings results on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.25. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.24 billion. PPG Industries had a net margin of 6.26% and a return on equity of 23.34%. PPG Industries’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, May 9th. PPG Industries’s payout ratio is presently 52.33%.

A number of large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of PPG Industries during the 4th quarter worth approximately $275,588,000. BlackRock Inc. raised its stake in shares of PPG Industries by 3.4% during the 4th quarter. BlackRock Inc. now owns 21,452,009 shares of the specialty chemicals company’s stock worth $3,699,182,000 after buying an additional 698,561 shares during the period. Ceredex Value Advisors LLC raised its stake in shares of PPG Industries by 66.3% during the 4th quarter. Ceredex Value Advisors LLC now owns 1,456,745 shares of the specialty chemicals company’s stock worth $251,201,000 after buying an additional 580,545 shares during the period. State Street Corp raised its stake in shares of PPG Industries by 3.0% during the 4th quarter. State Street Corp now owns 11,498,215 shares of the specialty chemicals company’s stock worth $1,982,752,000 after buying an additional 338,189 shares during the period. Finally, Invesco Ltd. raised its stake in shares of PPG Industries by 21.6% during the 3rd quarter. Invesco Ltd. now owns 1,591,113 shares of the specialty chemicals company’s stock worth $227,544,000 after buying an additional 283,110 shares during the period. 78.95% of the stock is owned by institutional investors.

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.

Further Reading

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

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