PPG Industries (NYSE:PPG) Issues Earnings Results, Beats Expectations By $0.13 EPS

PPG Industries (NYSE:PPG) posted its earnings results on Tuesday. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.13, FiscalAI reports. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.28 billion.

PPG Industries Stock Performance

Shares of NYSE:PPG traded up $3.49 on Tuesday, reaching $113.39. The company’s stock had a trading volume of 2,583,401 shares, compared to its average volume of 1,971,903. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. The stock’s 50-day moving average is $108.47 and its two-hundred day moving average is $112.22. PPG Industries has a 52-week low of $93.39 and a 52-week high of $133.43. The stock has a market capitalization of $25.21 billion, a P/E ratio of 16.25, a PEG ratio of 2.04 and a beta of 1.06.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $2.96 annualized dividend and a yield of 2.6%. PPG Industries’s payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $128.00 price target on shares of PPG Industries in a research report on Friday, October 9th. Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Royal Bank Of Canada decreased their target price on PPG Industries from $122.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Barclays started coverage on shares of PPG Industries in a research note on Tuesday, October 13th. They issued an “overweight” rating and a $136.00 target price on the stock. Finally, KeyCorp assumed coverage on shares of PPG Industries in a research report on Friday, September 11th. They set an “overweight” rating and a $133.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.12.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.