PPG Industries (PPG) Scheduled to Post Quarterly Earnings on Thursday

PPG Industries (NYSE:PPG) will be issuing its quarterly earnings data after the market closes on Thursday, July 18th. Analysts expect the company to announce earnings of $2.49 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the company posted $1.82 EPS. PPG Industries’s revenue was down 1.6% on a year-over-year basis. 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

PPG stock opened at $133.23 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The company has a 50 day moving average price of $129.81 and a 200 day moving average price of $136.50. PPG Industries has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The stock has a market capitalization of $31.24 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

PPG Industries announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have commented on the stock. KeyCorp dropped their target price on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Royal Bank of Canada dropped their price objective on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. UBS Group lowered their target price on PPG Industries from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd. Finally, 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 report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $154.80.

Insider Activity

In other news, CEO Timothy M. Knavish acquired 2,061 shares of the stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,774,388.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is owned by company insiders.

PPG Industries Company Profile

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.