PPG Industries (PPG) Set to Announce Quarterly Earnings on Wednesday
PPG Industries (NYSE:PPG) is set to issue its quarterly earnings data before the market opens on Wednesday, January 17th. Analysts expect the company to announce earnings of $1.26 per share for the quarter.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.56 EPS. On average, analysts expect PPG Industries to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.
PPG Industries (NYSE PPG) opened at $118.17 on Tuesday. The stock has a market cap of $30,070.00, a P/E ratio of 23.54, a P/E/G ratio of 2.11 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 quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68.
PPG Industries declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
PPG has been the subject of a number of research reports. Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Citigroup raised their price objective on shares of PPG Industries from $112.00 to $114.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Jefferies Group reiterated a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a report on Thursday, October 19th. Credit Suisse Group set a $119.00 price objective on shares of PPG Industries and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Bank of America set a $120.00 price objective on shares of PPG Industries and gave the company a “hold” rating in a report on Friday, October 20th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. PPG Industries currently has an average rating of “Hold” and a consensus price target of $121.56.
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About PPG Industries
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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