PPG Industries, Inc. (NYSE:PPG) Expected to Post Quarterly Sales of $4.24 Billion

Analysts expect that PPG Industries, Inc. (NYSE:PPG) will report $4.24 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for PPG Industries’ earnings. The lowest sales estimate is $4.18 billion and the highest is $4.30 billion. PPG Industries posted sales of $3.69 billion in the same quarter last year, which suggests a positive year over year growth rate of 14.9%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 20th.

On average, analysts expect that PPG Industries will report full year sales of $16.69 billion for the current year, with estimates ranging from $16.44 billion to $16.96 billion. For the next financial year, analysts forecast that the business will report sales of $18.62 billion, with estimates ranging from $18.27 billion to $18.89 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow PPG Industries.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Sunday, July 18th. The specialty chemicals company reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.25). PPG Industries had a return on equity of 29.65% and a net margin of 9.71%. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The business’s quarterly revenue was up 44.6% on a year-over-year basis.

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PPG Industries from $190.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, September 8th. Citigroup downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $181.00 to $163.00 in a report on Thursday, September 9th. BMO Capital Markets decreased their target price on shares of PPG Industries from $197.00 to $189.00 and set an “outperform” rating for the company in a research note on Wednesday, July 21st. Mizuho initiated coverage on shares of PPG Industries in a research note on Tuesday. They issued a “buy” rating and a $180.00 target price for the company. Finally, Barclays reduced their price objective on shares of PPG Industries from $188.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 21st. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $175.69.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of PPG Industries by 1.4% in the second quarter. Vanguard Group Inc. now owns 19,664,585 shares of the specialty chemicals company’s stock worth $3,338,456,000 after acquiring an additional 265,951 shares during the last quarter. State Street Corp increased its stake in shares of PPG Industries by 5.5% in the second quarter. State Street Corp now owns 11,603,389 shares of the specialty chemicals company’s stock valued at $1,969,907,000 after buying an additional 601,191 shares in the last quarter. Capital International Investors increased its position in PPG Industries by 0.3% in the second quarter. Capital International Investors now owns 4,596,099 shares of the specialty chemicals company’s stock worth $780,280,000 after purchasing an additional 11,667 shares during the period. Geode Capital Management LLC increased its position in PPG Industries by 2.7% in the second quarter. Geode Capital Management LLC now owns 4,045,026 shares of the specialty chemicals company’s stock worth $684,780,000 after purchasing an additional 104,980 shares during the period. Finally, FMR LLC grew its position in shares of PPG Industries by 91.3% during the 2nd quarter. FMR LLC now owns 3,071,256 shares of the specialty chemicals company’s stock worth $521,407,000 after buying an additional 1,466,193 shares during the period. Hedge funds and other institutional investors own 78.88% of the company’s stock.

Shares of PPG opened at $154.68 on Thursday. PPG Industries has a 1-year low of $123.52 and a 1-year high of $182.97. The company has a 50-day moving average of $155.36 and a 200 day moving average of $164.54. The firm has a market capitalization of $36.71 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.36 and a quick ratio of 0.95.

PPG Industries Company Profile

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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

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