PPG Industries, Inc. (NYSE:PPG) – Equities researchers at KeyCorp dropped their FY2017 EPS estimates for PPG Industries in a note issued to investors on Wednesday. KeyCorp analyst M. Sison now forecasts that the specialty chemicals company will post earnings per share of $5.85 for the year, down from their previous estimate of $5.95. KeyCorp also issued estimates for PPG Industries’ Q4 2017 earnings at $1.15 EPS and FY2018 earnings at $6.60 EPS.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting the consensus estimate of $1.52. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. PPG Industries’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.56 EPS.

Several other equities research analysts have also recently weighed in on PPG. Jefferies Group restated a “buy” rating and set a $135.00 target price on shares of PPG Industries in a report on Wednesday, January 3rd. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Citigroup increased their target price on PPG Industries from $112.00 to $114.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Raymond James Financial assumed coverage on PPG Industries in a report on Tuesday, December 19th. They set an “outperform” rating and a $139.00 target price for the company. Finally, Credit Suisse Group set a $119.00 target price on PPG Industries and gave the company a “buy” rating in a report on Friday, October 20th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $121.56.

Shares of PPG Industries (PPG) opened at $118.17 on Friday. The firm has a market capitalization of $30,070.00, a PE ratio of 23.54, a P/E/G ratio of 2.10 and a beta of 1.60. PPG Industries has a fifty-two week low of $94.62 and a fifty-two week high of $119.85. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.

PPG Industries declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 14th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PPG. Bruderman Asset Management LLC bought a new position in PPG Industries during the 2nd quarter valued at approximately $105,000. Bristlecone Advisors LLC bought a new position in shares of PPG Industries in the 3rd quarter worth approximately $179,000. Ropes Wealth Advisors LLC raised its position in shares of PPG Industries by 5.0% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,743 shares of the specialty chemicals company’s stock worth $192,000 after acquiring an additional 83 shares in the last quarter. Checchi Capital Advisers LLC bought a new position in shares of PPG Industries in the 3rd quarter worth approximately $200,000. Finally, Sun Life Financial INC raised its position in shares of PPG Industries by 12,386.7% in the 2nd quarter. Sun Life Financial INC now owns 1,873 shares of the specialty chemicals company’s stock worth $206,000 after acquiring an additional 1,858 shares in the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.

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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.

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

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