PPG Industries, Inc. (NYSE:PPG) to Post Q2 2023 Earnings of $2.13 Per Share, Seaport Res Ptn Forecasts

Posted by Defense World Staff on Jul 21st, 2023

PPG Industries, Inc. (NYSE:PPG – Free Report) – Investment analysts at Seaport Res Ptn increased their Q2 2023 EPS estimates for shares of PPG Industries in a research note issued on Wednesday, July 19th. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will post earnings of $2.13 per share for the quarter, up from their prior forecast of $2.11. The consensus estimate for PPG Industries’ current full-year earnings is $7.30 per share. Seaport Res Ptn also issued estimates for PPG Industries’ FY2023 earnings at $7.32 EPS.

PPG has been the subject of a number of other research reports. Morgan Stanley increased their price target on PPG Industries from $140.00 to $143.00 in a research note on Monday, April 24th. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $156.00 in a report on Monday, April 24th. StockNews.com started coverage on shares of PPG Industries in a report on Thursday, May 18th. They set a “buy” rating for the company. Bank of America boosted their target price on shares of PPG Industries from $158.00 to $163.00 in a report on Wednesday, July 5th. Finally, BMO Capital Markets lifted their price target on shares of PPG Industries from $151.00 to $158.00 in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $153.12.

PPG Industries Stock Down 0.4 %

Shares of PPG stock opened at $149.72 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.68 and a quick ratio of 1.15. PPG Industries has a one year low of $107.40 and a one year high of $152.89. The company’s fifty day moving average price is $142.46 and its 200-day moving average price is $135.72. The company has a market capitalization of $35.25 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.17 and a beta of 1.19.

PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.14 by $0.11. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.84 billion. PPG Industries had a return on equity of 23.35% and a net margin of 7.18%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 earnings per share.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.74%. This is an increase from PPG Industries’s previous quarterly dividend of $0.62. PPG Industries’s dividend payout ratio (DPR) is presently 46.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vontobel Holding Ltd. grew its holdings in shares of PPG Industries by 51.9% in the first quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock worth $797,000 after purchasing an additional 2,048 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of PPG Industries by 14.7% in the first quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after purchasing an additional 3,025 shares during the period. Prudential PLC bought a new position in PPG Industries in the first quarter worth approximately $619,000. Vanguard Group Inc. raised its position in PPG Industries by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after purchasing an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of PPG Industries by 7.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock worth $2,553,000 after buying an additional 1,283 shares during the period. Institutional investors own 78.95% of the company’s stock.

PPG Industries Company Profile

(Get Free Report)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.