PPG Industries (NYSE:PPG) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

PPG Industries (NYSE:PPG) posted its quarterly earnings results on Tuesday. The specialty chemicals company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.13, FiscalAI reports. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.28 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%.

PPG Industries Stock Up 3.2%

Shares of NYSE:PPG traded up $3.49 during trading on Tuesday, hitting $113.39. The stock had a trading volume of 2,583,418 shares, compared to its average volume of 1,971,904. PPG Industries has a 12 month low of $93.39 and a 12 month high of $133.43. The company has a market capitalization of $25.21 billion, a PE ratio of 16.25, a PEG ratio of 2.04 and a beta of 1.06. The firm’s fifty day moving average is $108.47 and its 200 day moving average is $112.22. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be given a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. PPG Industries’s dividend payout ratio is currently 42.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PPG shares. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $127.00 to $134.00 in a report on Friday, July 17th. Wall Street Zen cut PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group cut their price objective on PPG Industries from $125.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. KeyCorp started coverage on PPG Industries in a research note on Friday, September 11th. They set an “overweight” rating and a $133.00 target price on the stock. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $136.00 target price on shares of PPG Industries in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.12.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.