Q3 2024 EPS Estimates for PPG Industries, Inc. (NYSE:PPG) Lifted by Zacks Research

PPG Industries, Inc. (NYSE:PPG) – Equities research analysts at Zacks Research upped their Q3 2024 earnings per share estimates for PPG Industries in a research report issued to clients and investors on Thursday, May 2nd. Zacks Research analyst M. Agrawal now expects that the specialty chemicals company will post earnings of $2.24 per share for the quarter, up from their prior estimate of $2.21. The consensus estimate for PPG Industries’ current full-year earnings is $8.45 per share. Zacks Research also issued estimates for PPG Industries’ Q4 2024 earnings at $1.77 EPS, Q4 2025 earnings at $1.94 EPS, FY2025 earnings at $9.26 EPS, Q1 2026 earnings at $2.31 EPS and FY2026 earnings at $10.16 EPS.

A number of other research analysts also recently issued reports on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada lowered their target price on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Evercore ISI cut shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective for the company. in a report on Monday, April 22nd. Finally, Wolfe Research assumed coverage on PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.47.

PPG Industries Trading Up 0.5 %

PPG opened at $132.92 on Monday. The stock has a fifty day moving average price of $138.16 and a 200-day moving average price of $139.02. PPG Industries has a 12 month low of $120.32 and a 12 month high of $152.89. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73. The firm has a market cap of $31.17 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.65 and a beta of 1.30.

PPG Industries (NYSE:PPG) last issued its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 EPS.

Institutional Investors Weigh In On PPG Industries

A number of institutional investors have recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of PPG Industries during the 3rd quarter worth $25,000. Valued Wealth Advisors LLC acquired a new stake in shares of PPG Industries during the 4th quarter valued at approximately $26,000. SJS Investment Consulting Inc. raised its stake in shares of PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 153 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $27,000. Finally, CVA Family Office LLC acquired a new stake in PPG Industries during the 4th quarter valued at $28,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio is currently 43.92%.

PPG Industries announced that its Board of Directors has approved a share repurchase program on Thursday, April 18th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The 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; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.