PPG Industries (NYSE:PPG) Releases Earnings Results, Misses Expectations By $0.04 EPS

PPG Industries (NYSE:PPG) released its earnings results on Thursday. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Trading Up 0.3 %

Shares of PPG Industries stock traded up $0.41 on Thursday, hitting $122.79. The stock had a trading volume of 2,768,287 shares, compared to its average volume of 2,080,231. The stock has a 50 day moving average of $121.25 and a 200 day moving average of $124.58. The firm has a market capitalization of $28.49 billion, a P/E ratio of 19.46, a PEG ratio of 1.93 and a beta of 1.24. PPG Industries has a twelve month low of $113.00 and a twelve month high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 43.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PPG shares. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Citigroup reduced their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Mizuho cut their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada decreased their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently 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.