PPG Industries, Inc. (NYSE:PPG) – Research analysts at KeyCorp increased their Q3 2018 earnings per share estimates for shares of PPG Industries in a research report issued on Wednesday, April 11th. KeyCorp analyst M. Sison now anticipates that the specialty chemicals company will post earnings per share of $1.75 for the quarter, up from their prior estimate of $1.52.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.61 billion. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. PPG Industries’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 earnings per share.
PPG opened at $110.04 on Friday. The firm has a market cap of $27,306.95, a P/E ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.56. PPG Industries has a 1 year low of $100.45 and a 1 year high of $122.07. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73.
PPG Industries declared that its board has approved a share repurchase program on Thursday, December 14th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other PPG Industries news, VP Jean-Marie Greindl sold 9,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total value of $1,100,005.00. Following the completion of the sale, the vice president now owns 27,685 shares of the company’s stock, valued at $3,205,646.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. G&S Capital LLC acquired a new stake in shares of PPG Industries in the fourth quarter worth about $110,000. Cerebellum GP LLC bought a new position in shares of PPG Industries in the fourth quarter worth about $128,000. SeaCrest Wealth Management LLC bought a new position in shares of PPG Industries in the fourth quarter worth about $132,000. Crewe Advisors LLC bought a new position in shares of PPG Industries in the fourth quarter worth about $136,000. Finally, NuWave Investment Management LLC bought a new position in shares of PPG Industries in the fourth quarter worth about $150,000. 76.82% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Dakota Financial News and is owned by of Dakota Financial News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://dakotafinancialnews.com/2018/04/13/research-analysts-offer-predictions-for-ppg-industries-inc-s-q3-2018-earnings-ppg.html.
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.
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.