PPG Industries (NYSE:PPG) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

PPG Industries (NYSE:PPG) issued its quarterly earnings data on Thursday. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04), Zacks reports. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%.

PPG Industries Stock Up 0.3 %

NYSE PPG traded up $0.41 during trading on Thursday, hitting $122.79. The company’s stock had a trading volume of 2,768,287 shares, compared to its average volume of 2,080,231. The company has a market cap of $28.49 billion, a PE ratio of 19.46, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business’s 50 day simple moving average is $121.25 and its 200-day simple moving average is $124.58. PPG Industries has a fifty-two week low of $113.00 and a fifty-two week high of $145.60.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analysts Set New Price Targets

A number of research analysts recently commented on PPG shares. Deutsche Bank Aktiengesellschaft decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada cut their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.