Research Analysts Set Expectations for PPG Industries, Inc.’s FY2023 Earnings (NYSE:PPG)

PPG Industries, Inc. (NYSE:PPG – Get Rating) – Equities research analysts at Jefferies Financial Group cut their FY2023 earnings per share estimates for shares of PPG Industries in a research report issued to clients and investors on Monday, January 23rd. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $5.75 per share for the year, down from their previous forecast of $5.80. The consensus estimate for PPG Industries’ current full-year earnings is $6.80 per share. Jefferies Financial Group also issued estimates for PPG Industries’ FY2025 earnings at $6.05 EPS and FY2026 earnings at $7.10 EPS.

PPG Industries (NYSE:PPG – Get Rating) last announced its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. PPG Industries had a return on equity of 22.95% and a net margin of 5.81%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group assumed coverage on PPG Industries in a research report on Thursday, October 13th. They set a “buy” rating and a $145.00 price objective for the company. KeyCorp boosted their target price on PPG Industries from $144.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday. Mizuho decreased their target price on PPG Industries from $146.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 12th. Royal Bank of Canada cut PPG Industries from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $128.00 to $129.00 in a research note on Tuesday, January 10th. Finally, Morgan Stanley decreased their target price on PPG Industries from $150.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, October 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $135.55.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $130.97 on Tuesday. PPG Industries has a one year low of $107.06 and a one year high of $159.16. The company has a market cap of $30.78 billion, a PE ratio of 30.25, a P/E/G ratio of 2.69 and a beta of 1.18. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.52. The business has a 50-day simple moving average of $129.61 and a 200-day simple moving average of $124.03.

Institutional Investors Weigh In On PPG Industries

Several large investors have recently modified their holdings of PPG. Janiczek Wealth Management LLC acquired a new position in PPG Industries during the second quarter worth $29,000. Guardian Wealth Advisors LLC acquired a new position in PPG Industries during the third quarter worth $27,000. Parkside Financial Bank & Trust grew its holdings in PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 87 shares during the period. Tradition Wealth Management LLC acquired a new position in PPG Industries during the second quarter worth $33,000. Finally, New England Asset Management Inc. acquired a new position in PPG Industries during the second quarter worth $33,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, February 16th. PPG Industries’s dividend payout ratio (DPR) is presently 57.27%.

About PPG Industries

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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.