FY2022 Earnings Forecast for PPG Industries, Inc. Issued By Jefferies Financial Group (NYSE:PPG)

PPG Industries, Inc. (NYSE:PPG – Get Rating) – Equities research analysts at Jefferies Financial Group increased their FY2022 EPS estimates for shares of PPG Industries in a report issued on Monday, April 25th. Jefferies Financial Group analyst L. Alexander now forecasts that the specialty chemicals company will post earnings of $7.30 per share for the year, up from their prior forecast of $7.20. Jefferies Financial Group has a “Hold” rating and a $130.00 price objective on the stock. Jefferies Financial Group also issued estimates for PPG Industries’ FY2023 earnings at $9.00 EPS.

PPG Industries (NYSE:PPG – Get Rating) last announced 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 $1.12 by $0.25. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.24 billion. PPG Industries had a return on equity of 23.34% and a net margin of 6.26%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada decreased their target price on PPG Industries from $174.00 to $169.00 in a report on Tuesday, January 25th. Robert W. Baird decreased their target price on PPG Industries from $200.00 to $180.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on PPG Industries from $180.00 to $155.00 in a research report on Monday. 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. Finally, BMO Capital Markets decreased their target price on PPG Industries from $199.00 to $181.00 and set an “outperform” rating for the company in a research report on Monday, January 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $169.76.

Shares of PPG Industries stock opened at $125.90 on Wednesday. PPG Industries has a 1-year low of $111.32 and a 1-year high of $182.97. The company has a market capitalization of $29.73 billion, a P/E ratio of 27.92, a PEG ratio of 1.67 and a beta of 1.22. The business’s fifty day moving average price is $130.97 and its two-hundred day moving average price is $150.65. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.42 and a quick ratio of 0.97.

Several large investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. lifted its position in shares of PPG Industries by 3.9% in the first quarter. Stratos Wealth Partners LTD. now owns 5,293 shares of the specialty chemicals company’s stock worth $694,000 after buying an additional 201 shares during the last quarter. Palladium Partners LLC lifted its position in shares of PPG Industries by 2.5% in the first quarter. Palladium Partners LLC now owns 8,773 shares of the specialty chemicals company’s stock worth $1,150,000 after buying an additional 210 shares during the last quarter. Orca Investment Management LLC increased its stake in shares of PPG Industries by 3.5% in the first quarter. Orca Investment Management LLC now owns 2,535 shares of the specialty chemicals company’s stock worth $332,000 after purchasing an additional 85 shares during the period. Atlantic Union Bankshares Corp increased its stake in shares of PPG Industries by 26.0% in the first quarter. Atlantic Union Bankshares Corp now owns 1,544 shares of the specialty chemicals company’s stock worth $203,000 after purchasing an additional 319 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of PPG Industries by 38.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 19,815 shares of the specialty chemicals company’s stock worth $2,597,000 after purchasing an additional 5,527 shares during the period. 78.95% of the stock is owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Tuesday, May 10th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, May 9th. This represents a $2.36 dividend on an annualized basis and a yield of 1.87%. PPG Industries’s payout ratio is 52.33%.

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.

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