PPG Industries, Inc. (NYSE:PPG) Expected to Post Q3 2024 Earnings of $2.13 Per Share

PPG Industries, Inc. (NYSE:PPG) – Stock analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of PPG Industries in a research note issued to investors on Thursday, August 1st. Zacks Research analyst M. Agrawal now expects that the specialty chemicals company will post earnings per share of $2.13 for the quarter, down from their prior estimate of $2.24. The consensus estimate for PPG Industries’ current full-year earnings is $8.25 per share. Zacks Research also issued estimates for PPG Industries’ Q2 2025 earnings at $2.73 EPS, Q4 2025 earnings at $1.86 EPS, FY2025 earnings at $8.91 EPS, Q1 2026 earnings at $2.21 EPS and FY2026 earnings at $9.81 EPS.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter last year, the business earned $2.25 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year.

A number of other research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. UBS Group raised their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Bank of America lowered their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company upgraded shares of PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Trading Down 0.3 %

Shares of NYSE PPG opened at $119.06 on Monday. The company’s 50 day simple moving average is $127.88 and its 200 day simple moving average is $134.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. PPG Industries has a fifty-two week low of $118.96 and a fifty-two week high of $151.16. The firm has a market capitalization of $27.92 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.70 and a beta of 1.26.

Hedge Funds Weigh In On PPG Industries

Large investors have recently bought and sold shares of the company. Private Wealth Management Group LLC acquired a new position in PPG Industries during the fourth quarter worth $27,000. Richardson Financial Services Inc. acquired a new position in shares of PPG Industries during the 4th quarter worth about $29,000. DiNuzzo Private Wealth Inc. bought a new position in shares of PPG Industries in the 4th quarter valued at about $29,000. LifeSteps Financial Inc. acquired a new stake in shares of PPG Industries in the first quarter valued at about $29,000. Finally, YHB Investment Advisors Inc. bought a new stake in PPG Industries during the first quarter worth about $29,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a $0.68 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.28%. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

PPG Industries declared that its board has authorized a share buyback plan on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

PPG Industries Company Profile

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.