PPG Industries (NYSE:PPG) Issues FY 2019 Earnings Guidance

PPG Industries (NYSE:PPG) updated its FY 2019 earnings guidance on Thursday. The company provided EPS guidance of $6.33-6.51 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.31. PPG Industries also updated its Q3 guidance to $1.57-1.67 EPS.

A number of equities analysts recently issued reports on the stock. BMO Capital Markets reiterated a hold rating and issued a $45.00 target price on shares of SAP in a research report on Wednesday, May 1st. KeyCorp set a $37.00 price objective on shares of SeaWorld Entertainment and gave the company a buy rating in a research report on Friday, April 12th. JPMorgan Chase & Co. set a $45.00 price objective on shares of Ciena and gave the company a buy rating in a research report on Friday, March 22nd. Deutsche Bank raised their price objective on shares of Keysight Technologies from $100.00 to $120.00 and gave the company a buy rating in a research report on Monday, April 22nd. Finally, SunTrust Banks raised their price objective on shares of Crowdstrike to $80.00 and gave the company a hold rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $120.76.

PPG stock opened at $117.51 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 0.92. PPG Industries has a one year low of $94.37 and a one year high of $121.29. The stock has a market capitalization of $27.62 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.01 and a beta of 1.23. The firm’s 50-day moving average price is $115.25.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. PPG Industries had a net margin of 8.07% and a return on equity of 28.24%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The business’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, analysts forecast that PPG Industries will post 6.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.51 per share. This is a positive change from PPG Industries’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.74%. PPG Industries’s dividend payout ratio is currently 32.43%.

In other PPG Industries news, VP William E. Schaupp sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total transaction of $267,200.00. Following the completion of the sale, the vice president now directly owns 4,389 shares of the company’s stock, valued at $469,096.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Victoria F. Haynes sold 674 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $107.16, for a total transaction of $72,225.84. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

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.

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Earnings History and Estimates for PPG Industries (NYSE:PPG)

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