Analysts Anticipate PPG Industries, Inc. (NYSE:PPG) Will Post Quarterly Sales of $3.67 Billion

Analysts expect PPG Industries, Inc. (NYSE:PPG) to announce sales of $3.67 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for PPG Industries’ earnings. The highest sales estimate is $3.74 billion and the lowest is $3.63 billion. PPG Industries reported sales of $3.65 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.5%. The business is expected to issue its next quarterly earnings report on Thursday, January 16th.

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On average, analysts expect that PPG Industries will report full year sales of $15.14 billion for the current financial year, with estimates ranging from $15.10 billion to $15.21 billion. For the next fiscal year, analysts expect that the firm will post sales of $15.53 billion, with estimates ranging from $15.24 billion to $16.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for PPG Industries.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.06. PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the firm earned $1.45 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the stock. SunTrust Banks reiterated a “hold” rating and set a $123.00 price target on shares of PPG Industries in a research report on Friday, July 19th. They noted that the move was a valuation call. Credit Suisse Group set a $115.00 price target on shares of PPG Industries and gave the company a “hold” rating in a research report on Friday, July 19th. BMO Capital Markets lifted their price target on shares of PPG Industries from $113.00 to $129.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating and set a $124.00 price target for the company. in a research report on Wednesday, October 16th. Finally, Barclays lifted their price objective on PPG Industries from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $128.44.

In other PPG Industries news, CEO Michael H. Mcgarry sold 30,450 shares of PPG Industries stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $130.00, for a total value of $3,958,500.00. Following the completion of the sale, the chief executive officer now directly owns 149,884 shares of the company’s stock, valued at approximately $19,484,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael H. Mcgarry sold 11,916 shares of PPG Industries stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $125.00, for a total transaction of $1,489,500.00. Following the completion of the sale, the chief executive officer now directly owns 131,350 shares of the company’s stock, valued at $16,418,750. The disclosure for this sale can be found here. Insiders have sold a total of 54,366 shares of company stock valued at $6,888,000 over the last 90 days. Insiders own 0.37% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in PPG. American National Bank purchased a new stake in PPG Industries in the 2nd quarter worth approximately $25,000. Krane Funds Advisors LLC purchased a new stake in PPG Industries in the 2nd quarter worth approximately $25,000. Prime Capital Investment Advisors LLC purchased a new stake in PPG Industries in the 3rd quarter worth approximately $25,000. Coastal Investment Advisors Inc. grew its stake in PPG Industries by 280.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 228 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 168 shares during the period. Finally, Westside Investment Management Inc. purchased a new stake in PPG Industries in the 2nd quarter worth approximately $29,000. 77.25% of the stock is owned by hedge funds and other institutional investors.

PPG stock opened at $128.92 on Monday. The firm has a 50 day moving average of $121.01 and a 200-day moving average of $115.87. PPG Industries has a 12-month low of $94.41 and a 12-month high of $130.42. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 1.02. The company has a market cap of $30.68 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.21 and a beta of 1.24.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, November 8th. This represents a $2.04 annualized dividend and a dividend yield of 1.58%. PPG Industries’s dividend payout ratio is currently 34.46%.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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

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