Brokerages Expect PPG Industries, Inc. (PPG) to Announce $1.42 EPS
Analysts forecast that PPG Industries, Inc. (NYSE:PPG) will announce $1.42 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for PPG Industries’ earnings, with the lowest EPS estimate coming in at $1.35 and the highest estimate coming in at $1.53. PPG Industries posted earnings per share of $1.35 in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.2%. The firm is expected to announce its next earnings results on Thursday, April 19th.
According to Zacks, analysts expect that PPG Industries will report full year earnings of $6.57 per share for the current fiscal year, with EPS estimates ranging from $6.35 to $6.71. For the next fiscal year, analysts anticipate that the business will report earnings of $7.31 per share, with EPS estimates ranging from $7.00 to $7.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow PPG Industries.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.01. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the company. Verity & Verity LLC grew its holdings in PPG Industries by 0.9% during the third quarter. Verity & Verity LLC now owns 60,816 shares of the specialty chemicals company’s stock worth $6,609,000 after acquiring an additional 534 shares during the period. LS Investment Advisors LLC grew its holdings in PPG Industries by 3.4% during the third quarter. LS Investment Advisors LLC now owns 23,972 shares of the specialty chemicals company’s stock worth $2,605,000 after acquiring an additional 784 shares during the period. Private Advisor Group LLC grew its holdings in PPG Industries by 19.2% during the third quarter. Private Advisor Group LLC now owns 16,278 shares of the specialty chemicals company’s stock worth $1,827,000 after acquiring an additional 2,626 shares during the period. Norinchukin Bank The grew its holdings in PPG Industries by 7.4% during the third quarter. Norinchukin Bank The now owns 19,089 shares of the specialty chemicals company’s stock worth $2,074,000 after acquiring an additional 1,310 shares during the period. Finally, Bessemer Group Inc. grew its holdings in PPG Industries by 90.8% during the third quarter. Bessemer Group Inc. now owns 3,107 shares of the specialty chemicals company’s stock worth $337,000 after acquiring an additional 1,479 shares during the period. Institutional investors and hedge funds own 75.02% of the company’s stock.
PPG Industries (NYSE:PPG) opened at $117.62 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $30,213.93 and a P/E ratio of 18.64. PPG Industries has a fifty-two week low of $99.55 and a fifty-two week high of $122.07.
PPG Industries announced that its board has approved a stock buyback program on Thursday, December 14th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, February 15th. PPG Industries’s dividend payout ratio (DPR) is presently 28.53%.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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