FY2016 Earnings Estimate for PPG Industries Inc. (PPG) Issued By Jefferies Group
PPG Industries Inc. (NYSE:PPG) – Stock analysts at Jefferies Group reduced their FY2016 EPS estimates for shares of PPG Industries in a research note issued to investors on Wednesday. Jefferies Group analyst L. Alexander now forecasts that the firm will post earnings of $6.10 per share for the year, down from their previous forecast of $6.15. Jefferies Group has a “Buy” rating and a $129.00 price objective on the stock. Jefferies Group also issued estimates for PPG Industries’ Q1 2017 earnings at $1.40 EPS, Q2 2017 earnings at $2.06 EPS, FY2017 earnings at $6.80 EPS, FY2018 earnings at $7.75 EPS and FY2020 earnings at $9.05 EPS.
Other research analysts also recently issued reports about the stock. Seaport Global Securities upgraded shares of PPG Industries from an “accumulate” rating to a “buy” rating and upped their price target for the stock from $125.00 to $130.00 in a report on Tuesday, July 26th. Zacks Investment Research downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $120.00 price target on shares of PPG Industries in a report on Friday, June 17th. Credit Suisse Group AG reiterated a “buy” rating on shares of PPG Industries in a report on Wednesday, June 15th. Finally, Longbow Research upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a report on Thursday, June 23rd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $121.17.
Shares of PPG Industries (NYSE:PPG) opened at 102.19 on Thursday. The firm has a 50 day moving average price of $103.81 and a 200 day moving average price of $107.10. The firm has a market cap of $27.21 billion, a P/E ratio of 18.88 and a beta of 1.47. PPG Industries has a 1-year low of $88.37 and a 1-year high of $117.00.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.85. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.17 billion. PPG Industries had a return on equity of 30.94% and a net margin of 9.57%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 earnings per share.
Several institutional investors have recently added to or reduced their stakes in PPG. Meeder Asset Management Inc. bought a new position in PPG Industries during the first quarter worth about $144,000. Invictus RG bought a new position in PPG Industries during the first quarter worth about $147,000. Cable Hill Partners LLC boosted its position in PPG Industries by 1.9% in the second quarter. Cable Hill Partners LLC now owns 1,346 shares of the company’s stock worth $142,000 after buying an additional 25 shares during the period. Nikko Asset Management Americas Inc. bought a new position in PPG Industries during the first quarter worth about $157,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in PPG Industries by 12.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,413 shares of the company’s stock worth $158,000 after buying an additional 162 shares during the period. 73.04% of the stock is currently owned by institutional investors.
In other news, insider Viktoras R. Sekmakas sold 40,950 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the transaction, the insider now owns 69,044 shares of the company’s stock, valued at approximately $7,362,852.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.08, for a total transaction of $967,944.00. Following the transaction, the vice president now directly owns 11,806 shares in the company, valued at approximately $1,228,768.48. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, August 8th. This represents a $1.60 dividend on an annualized basis and a yield of 1.57%. PPG Industries’s dividend payout ratio (DPR) is currently 29.57%.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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