PPG Industries (NYSE:PPG) Issues Quarterly Earnings Results

PPG Industries (NYSE:PPG) issued its earnings results on Thursday. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates 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 Down 5.9 %

Shares of NYSE:PPG opened at $115.48 on Friday. PPG Industries has a 12-month low of $113.00 and a 12-month high of $145.60. The business has a 50 day moving average of $121.11 and a 200-day moving average of $124.46. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market cap of $26.79 billion, a PE ratio of 18.30, a P/E/G ratio of 1.94 and a beta of 1.24.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is presently 43.11%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PPG. Citigroup decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada lowered their price objective on shares of 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. UBS Group cut their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $148.00.

About PPG Industries

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.