PPG Industries (NYSE:PPG) Updates FY 2020 Pre-Market Earnings Guidance

PPG Industries (NYSE:PPG) updated its FY 2020
Pre-Market earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.47-6.78 for the period, compared to the Thomson Reuters consensus estimate of $6.83. The company issued revenue guidance of $15.297-15.6 billion, compared to the consensus revenue estimate of $15.61 billion.PPG Industries also updated its Q1 guidance to $1.32-1.42 EPS.

Several brokerages recently weighed in on PPG. Goldman Sachs Group lowered PPG Industries from a conviction-buy rating to a buy rating in a research report on Monday, November 18th. Royal Bank of Canada set a $132.00 target price on PPG Industries and gave the stock a buy rating in a research report on Friday, October 18th. Berenberg Bank began coverage on PPG Industries in a research report on Wednesday, November 6th. They issued a buy rating and a $150.00 target price on the stock. BMO Capital Markets increased their target price on PPG Industries from $113.00 to $129.00 and gave the stock a market perform rating in a research report on Monday, October 21st. Finally, Robert W. Baird increased their target price on PPG Industries from $130.00 to $145.00 and gave the stock an outperform rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. PPG Industries presently has a consensus rating of Hold and an average target price of $130.56.

NYSE:PPG traded down $3.59 during mid-day trading on Thursday, hitting $127.15. The company had a trading volume of 1,476,130 shares, compared to its average volume of 1,186,618. The business has a fifty day simple moving average of $131.21 and a 200-day simple moving average of $121.62. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 1.02. PPG Industries has a 1 year low of $100.87 and a 1 year high of $134.36. The firm has a market capitalization of $30.72 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.06 and a beta of 1.24.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 16th. The specialty chemicals company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the business earned $1.15 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, research analysts anticipate that PPG Industries will post 6.25 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, January 21st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.60%. PPG Industries’s dividend payout ratio (DPR) is presently 34.46%.

In other PPG Industries news, CEO Michael H. Mcgarry sold 30,450 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $130.00, for a total value of $3,958,500.00. Following the transaction, the chief executive officer now directly owns 149,884 shares of the company’s stock, valued at $19,484,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael H. Mcgarry sold 11,916 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $125.00, for a total value of $1,489,500.00. Following the completion of the transaction, the chief executive officer now directly owns 131,350 shares in the company, valued at $16,418,750. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

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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