PPG Industries (NYSE:PPG) Releases 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.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of PPG Industries from a hold rating to a sell rating and set a $124.00 target price on the stock. in a research report on Wednesday, October 16th. UBS Group boosted their target price on shares of PPG Industries from $135.00 to $140.00 and gave the company a buy rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of PPG Industries from an underweight rating to a neutral rating and boosted their target price for the company from $108.00 to $120.00 in a research report on Friday, October 18th. BMO Capital Markets boosted their target price 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. Finally, Royal Bank of Canada set a $132.00 target price on shares of PPG Industries and gave the company a buy rating in a research report on Friday, October 18th. Two 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. The company presently has an average rating of Hold and a consensus price target of $130.56.

NYSE PPG traded down $3.59 during trading on Thursday, hitting $127.15. 1,476,130 shares of the company’s stock traded hands, compared to its average volume of 1,186,618. The stock 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 has a 12-month low of $100.87 and a 12-month high of $134.36. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.49. The business has a 50 day moving average of $131.21 and a 200-day moving average of $121.62.

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 Thomson Reuters’ consensus estimate of $1.34 by ($0.03). The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.67 billion. PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. PPG Industries’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. On average, analysts expect that PPG Industries will post 6.25 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.51 per share. 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 company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $130.00, for a total transaction of $3,958,500.00. Following the sale, 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 legal filing with the SEC, which is available through the SEC website. Also, CEO Michael H. Mcgarry sold 11,916 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $125.00, for a total transaction of $1,489,500.00. Following the sale, 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. 0.37% of the stock is owned by corporate insiders.

PPG Industries Company Profile

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.

Further Reading: What are the qualifications of a portfolio manager?

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

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.