PPG Industries (NYSE:PPG) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.18-1.23 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.42.
Shares of NYSE PPG opened at $104.86 on Friday. The firm has a market cap of $25.45 billion, a PE ratio of 17.71, a PEG ratio of 2.01 and a beta of 1.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.96 and a current ratio of 1.37. PPG Industries has a one year low of $94.37 and a one year high of $118.62.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.05. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.65 billion. PPG Industries had a return on equity of 27.86% and a net margin of 8.84%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. As a group, research analysts expect that PPG Industries will post 6.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Friday, February 22nd will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, February 21st. This represents a $1.92 annualized dividend and a yield of 1.83%. PPG Industries’s payout ratio is 32.43%.
Several equities analysts recently issued reports on PPG shares. SunTrust Banks raised their price target on PPG Industries to $110.00 and gave the stock a hold rating in a research report on Tuesday, January 22nd. Credit Suisse Group cut their price objective on PPG Industries to $112.00 and set a neutral rating on the stock in a research report on Friday, January 18th. BMO Capital Markets set a $112.00 price objective on PPG Industries and gave the company a hold rating in a research note on Wednesday, January 23rd. Zacks Investment Research lowered PPG Industries from a hold rating to a sell rating in a report on Thursday, December 20th. Finally, Goldman Sachs Group raised PPG Industries from a buy rating to a conviction-buy rating in a report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. PPG Industries has a consensus rating of Hold and a consensus target price of $117.25.
PPG Industries Company Profile
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.
Featured Article: Google Finance Portfolio Tips and Tricks