PPG Industries (NYSE:PPG) Releases FY 2024 Earnings Guidance

PPG Industries (NYSE:PPG) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 8.150-8.150 for the period, compared to the consensus EPS estimate of 8.220. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets lowered their target price on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. KeyCorp dropped their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. UBS Group increased their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada dropped their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Finally, Citigroup reduced their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $130.36 on Thursday. The stock has a market cap of $30.57 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 1.72 and a beta of 1.26. The stock’s 50-day moving average is $126.73 and its 200 day moving average is $129.26. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries has a 1-year low of $118.07 and a 1-year high of $151.16.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the firm posted $2.07 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that PPG Industries will post 8.24 EPS for the current fiscal year.

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.