PPG Industries (PPG) Set to Announce Quarterly Earnings on Thursday

PPG Industries (NYSE:PPGGet Free Report) will issue its quarterly earnings data after the market closes on Thursday, July 18th. Analysts expect PPG Industries to post earnings of $2.49 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

PPG Industries (NYSE:PPGGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.82 EPS. On average, analysts expect PPG Industries to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

PPG Industries Stock Performance

NYSE:PPG opened at $126.67 on Thursday. PPG Industries has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. The company has a 50 day moving average price of $129.97 and a 200 day moving average price of $137.11. The stock has a market capitalization of $29.70 billion, a P/E ratio of 21.40, a PEG ratio of 1.58 and a beta of 1.26.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s dividend payout ratio is currently 43.92%.

PPG Industries announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of recent research reports. KeyCorp cut their price objective on PPG Industries from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Bank of America decreased their price objective on PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Citigroup cut their target price on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Evercore ISI downgraded shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective on the stock. in a research report on Monday, April 22nd. Finally, Seaport Res Ptn raised PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd. One equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.80.

Read Our Latest Stock Report on PPG

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish purchased 2,061 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $133.24 per share, with a total value of $274,607.64. Following the purchase, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

About PPG Industries

(Get Free Report)

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.

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Earnings History for PPG Industries (NYSE:PPG)

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