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

by · The Cerbat Gem

PPG Industries (NYSE:PPG – Get Free Report) 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 -.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. UBS Group upped their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Barclays dropped their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada decreased 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, Bank of America dropped their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Six investment 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.08.

Check Out Our Latest Analysis on PPG

PPG Industries Price Performance

Shares of NYSE PPG traded up $0.49 during trading hours on Wednesday, reaching $130.36. 2,006,446 shares of the stock traded hands, compared to its average volume of 1,596,135. The company has a market capitalization of $30.57 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The company’s 50-day simple moving average is $126.49 and its two-hundred day simple moving average is $129.25. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. PPG Industries has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the company earned $2.25 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts forecast that PPG Industries will post 8.24 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a dividend of $0.68 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, August 12th. PPG Industries’s dividend payout ratio is presently 45.95%.

About PPG Industries

(Get Free Report)

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.

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