PPG Industries (PPG) Releases Quarterly Earnings Results, Meets Expectations

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PPG Industries (NYSE:PPG) issued its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.45, MarketWatch Earnings reports. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.81 billion. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. PPG Industries updated its Q4 2018 guidance to $1.03-1.13 EPS and its Q4 guidance to $1.03-1.13 EPS.

PPG traded down $0.96 during trading on Friday, reaching $107.71. 897,306 shares of the company were exchanged, compared to its average volume of 2,636,520. The company has a market cap of $26.27 billion, a P/E ratio of 18.35, a PEG ratio of 2.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.71 and a quick ratio of 1.22. PPG Industries has a 52 week low of $94.37 and a 52 week high of $122.07.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 12th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 1.78%. PPG Industries’s payout ratio is currently 32.71%.

PPG has been the topic of several recent research reports. Deutsche Bank boosted their price target on PPG Industries from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 1st. Goldman Sachs Group raised PPG Industries from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 29th. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Credit Suisse Group set a $115.00 target price on PPG Industries and gave the company a “hold” rating in a research report on Monday, October 15th. Finally, JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and set a $113.00 target price on the stock. in a research report on Friday, July 27th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $117.81.

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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.

See Also: Average Daily Trade Volume – ADTV

Earnings History for PPG Industries (NYSE:PPG)

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