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.
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
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.
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