$1.62 Earnings Per Share Expected for PPG Industries, Inc. (NYSE:PPG) This Quarter

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Analysts expect PPG Industries, Inc. (NYSE:PPG) to post $1.62 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for PPG Industries’ earnings, with the lowest EPS estimate coming in at $1.58 and the highest estimate coming in at $1.67. PPG Industries reported earnings of $1.45 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 11.7%. The company is expected to issue its next earnings results on Thursday, October 17th.

According to Zacks, analysts expect that PPG Industries will report full-year earnings of $6.28 per share for the current fiscal year, with EPS estimates ranging from $6.20 to $6.40. For the next financial year, analysts expect that the business will post earnings of $6.87 per share, with EPS estimates ranging from $6.50 to $7.10. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover PPG Industries.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.10 billion. PPG Industries had a return on equity of 27.89% and a net margin of 8.07%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 EPS.

A number of analysts recently commented on the company. Royal Bank of Canada boosted their target price on PPG Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Barclays boosted their target price on PPG Industries from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Citigroup set a $133.00 target price on PPG Industries and gave the company a “buy” rating in a research report on Friday, July 19th. Buckingham Research boosted their target price on PPG Industries from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Societe Generale initiated coverage on PPG Industries in a report on Tuesday, July 9th. They set a “buy” rating and a $138.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $123.71.

Shares of NYSE:PPG opened at $113.09 on Friday. PPG Industries has a 1 year low of $94.37 and a 1 year high of $121.29. The firm has a market cap of $27.25 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 2.00 and a beta of 1.22. The company has a 50-day simple moving average of $116.49. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.43 and a quick ratio of 1.01.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 1.80%. This is an increase from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s dividend payout ratio is currently 34.46%.

In other PPG Industries news, VP Vadlamannati Ramaprasad sold 13,904 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $117.12, for a total transaction of $1,628,436.48. Following the sale, the vice president now owns 29,617 shares in the company, valued at $3,468,743.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Victoria F. Haynes sold 674 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $107.16, for a total value of $72,225.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,078 shares of company stock worth $1,967,862. Company insiders own 0.37% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PPG. National Pension Service increased its stake in PPG Industries by 14.2% in the second quarter. National Pension Service now owns 343,543 shares of the specialty chemicals company’s stock valued at $40,095,000 after acquiring an additional 42,696 shares during the last quarter. Rampart Investment Management Company LLC grew its stake in shares of PPG Industries by 1.4% during the second quarter. Rampart Investment Management Company LLC now owns 12,364 shares of the specialty chemicals company’s stock valued at $1,443,000 after buying an additional 165 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of PPG Industries by 13.6% during the second quarter. Asset Management One Co. Ltd. now owns 127,714 shares of the specialty chemicals company’s stock valued at $14,904,000 after buying an additional 15,290 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of PPG Industries during the second quarter valued at about $549,000. Finally, Laurion Capital Management LP bought a new position in shares of PPG Industries during the second quarter valued at about $233,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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