FY2017 Earnings Estimate for PPG Industries, Inc. (PPG) Issued By SunTrust Banks

PPG Industries, Inc. (NYSE:PPG) – Stock analysts at SunTrust Banks cut their FY2017 EPS estimates for shares of PPG Industries in a research note issued to investors on Wednesday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will post earnings per share of $6.12 for the year, down from their prior forecast of $6.23. SunTrust Banks also issued estimates for PPG Industries’ Q4 2017 earnings at $1.29 EPS.

A number of other research firms also recently commented on PPG. TheStreet upgraded PPG Industries from a “c+” rating to a “b+” rating in a research report on Monday, May 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $120.00 target price (up from $113.00) on shares of PPG Industries in a research report on Tuesday, April 18th. Barclays PLC boosted their target price on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, April 24th. Deutsche Bank AG reiterated a “hold” rating and set a $110.00 target price (up from $102.00) on shares of PPG Industries in a research report on Sunday, April 23rd. Finally, Wells Fargo & Company downgraded PPG Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 9th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $114.46.

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

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PPG Industries (PPG) opened at 111.11 on Monday. PPG Industries has a 12 month low of $89.64 and a 12 month high of $113.49. The stock has a market cap of $28.47 billion, a price-to-earnings ratio of 34.02 and a beta of 1.54. The stock’s 50 day moving average price is $108.46 and its 200-day moving average price is $103.12.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, April 20th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. PPG Industries had a return on equity of 30.40% and a net margin of 5.79%. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the firm posted $1.31 EPS. The business’s revenue was up .7% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Wednesday, May 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 8th. This represents a $1.60 annualized dividend and a yield of 1.44%. PPG Industries’s payout ratio is currently 48.93%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cadence Capital Management LLC raised its position in PPG Industries by 0.3% in the fourth quarter. Cadence Capital Management LLC now owns 2,128 shares of the specialty chemicals company’s stock valued at $202,000 after buying an additional 6 shares during the last quarter. Investment Partners Ltd. OH ADV raised its position in PPG Industries by 0.3% in the first quarter. Investment Partners Ltd. OH ADV now owns 2,478 shares of the specialty chemicals company’s stock valued at $260,000 after buying an additional 8 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in PPG Industries by 0.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,799 shares of the specialty chemicals company’s stock valued at $265,000 after buying an additional 9 shares during the last quarter. YorkBridge Wealth Partners LLC raised its position in PPG Industries by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,820 shares of the specialty chemicals company’s stock valued at $637,000 after buying an additional 15 shares during the last quarter. Finally, Linscomb & Williams Inc. raised its position in PPG Industries by 1.1% in the first quarter. Linscomb & Williams Inc. now owns 2,925 shares of the specialty chemicals company’s stock valued at $307,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 71.83% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PPG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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