PPG Industries (NYSE:PPG) Posts Earnings Results, Misses Expectations By $0.04 EPS

PPG Industries (NYSE:PPG) announced its quarterly earnings results on Thursday. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04), Zacks reports. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%.

PPG Industries Trading Down 5.3 %

Shares of NYSE:PPG opened at $116.26 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market capitalization of $26.97 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.94 and a beta of 1.24. PPG Industries has a 1-year low of $113.00 and a 1-year high of $145.60. The company has a 50 day moving average price of $121.25 and a 200 day moving average price of $124.56.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.34%. PPG Industries’s payout ratio is currently 43.11%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Mizuho reduced their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus target price of $149.23.

About PPG Industries

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.