PPG Industries (NYSE:PPG) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

PPG Industries (NYSE:PPG) released 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 Stock Performance

Shares of PPG stock traded up $0.41 during mid-day trading on Thursday, reaching $122.79. The stock had a trading volume of 2,768,287 shares, compared to its average volume of 2,080,231. PPG Industries has a one year low of $113.00 and a one year high of $145.60. 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 firm’s 50 day simple moving average is $121.25 and its 200 day simple moving average is $124.58. The firm has a market cap of $28.49 billion, a PE ratio of 19.46, a P/E/G ratio of 1.93 and a beta of 1.24.

PPG Industries Announces Dividend

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 issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is 43.11%.

Analyst Ratings Changes

A number of brokerages have weighed in on PPG. Royal Bank of Canada decreased their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Citigroup decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.23.

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.