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

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

Analysts Set New Price Targets

A number of research firms have weighed in on PPG. BMO Capital Markets set a $160.00 price target on PPG Industries in a research report on Thursday. Barclays reduced their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. reduced their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada reduced their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Finally, KeyCorp cut their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $150.50.

PPG Industries Trading Down 0.3 %

Shares of PPG Industries stock opened at $130.93 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The company has a market capitalization of $30.55 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.73 and a beta of 1.26. The business has a fifty day simple moving average of $127.21 and a two-hundred day simple moving average of $129.19. PPG Industries has a 1 year low of $118.07 and a 1 year high of $151.16.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 44.59%.

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.