PPG Industries, Inc. (NYSE:PPG) Expected to Earn Q3 2024 Earnings of $2.14 Per Share

PPG Industries, Inc. (NYSE:PPG) – KeyCorp issued their Q3 2024 earnings estimates for shares of PPG Industries in a research note issued to investors on Sunday, October 6th. KeyCorp analyst A. Yefremov forecasts that the specialty chemicals company will post earnings of $2.14 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $153.00 target price on the stock. The consensus estimate for PPG Industries’ current full-year earnings is $8.25 per share. KeyCorp also issued estimates for PPG Industries’ Q4 2024 earnings at $1.74 EPS, FY2024 earnings at $8.25 EPS and FY2025 earnings at $9.07 EPS.

Several other equities analysts also recently commented on PPG. Royal Bank of Canada cut their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. UBS Group upped their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. BMO Capital Markets dropped their target price on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Barclays dropped their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $127.34 on Wednesday. The company has a market capitalization of $29.86 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.76 and a beta of 1.26. PPG Industries has a 12 month low of $118.07 and a 12 month high of $151.16. The firm’s 50-day moving average is $125.97 and its 200 day moving average is $129.77. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the firm posted $2.25 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingsview Wealth Management LLC increased its stake in shares of PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after acquiring an additional 76 shares during the period. Applied Capital LLC FL increased its stake in shares of PPG Industries by 1.3% in the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after acquiring an additional 82 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after acquiring an additional 82 shares during the period. Klingman & Associates LLC grew its position in PPG Industries by 2.6% during the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after buying an additional 83 shares during the period. Finally, Fragasso Financial Advisors Inc grew its position in PPG Industries by 0.6% during the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is presently 45.95%.

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.