PPG Industries (NYSE:PPG) Releases Q3 2022 Earnings Guidance

PPG Industries (NYSE:PPGGet Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $1.75-$2.00 for the period, compared to the consensus EPS estimate of $2.05. The company issued revenue guidance of -.

Analyst Ratings Changes

Several analysts have recently commented on the company. TheStreet cut PPG Industries from a b- rating to a c rating in a report on Monday, May 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $180.00 to $155.00 in a report on Monday, April 25th. Wells Fargo & Company reduced their price target on PPG Industries from $140.00 to $126.00 and set an equal weight rating for the company in a report on Monday, July 18th. Barclays reduced their price target on PPG Industries from $175.00 to $150.00 in a report on Monday, May 2nd. Finally, Berenberg Bank cut PPG Industries from a buy rating to a hold rating and reduced their price objective for the stock from $180.00 to $140.00 in a report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $155.18.

PPG Industries Trading Down 0.6 %

Shares of NYSE:PPG traded down $0.77 during midday trading on Friday, reaching $127.36. The company’s stock had a trading volume of 1,099,343 shares, compared to its average volume of 1,356,680. The firm has a market cap of $29.93 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.63 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.50 and a debt-to-equity ratio of 1.08. PPG Industries has a 1 year low of $107.06 and a 1 year high of $177.32. The business has a 50 day moving average price of $120.60 and a 200 day moving average price of $130.07.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from PPG Industries’s previous quarterly dividend of $0.59. PPG Industries’s payout ratio is currently 51.75%.

Institutional Investors Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust grew its position 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 valued at $36,000 after acquiring an additional 87 shares during the period. Achmea Investment Management B.V. purchased a new stake in PPG Industries during the first quarter valued at about $40,000. Salem Investment Counselors Inc. grew its position in PPG Industries by 17.6% during the first quarter. Salem Investment Counselors Inc. now owns 668 shares of the specialty chemicals company’s stock valued at $88,000 after acquiring an additional 100 shares during the period. Resurgent Financial Advisors LLC purchased a new stake in PPG Industries during the first quarter valued at about $200,000. Finally, Lumature Wealth Partners LLC purchased a new stake in PPG Industries during the first quarter valued at about $211,000. Hedge funds and other institutional investors own 79.12% of the company’s stock.

PPG Industries Company Profile

(Get Rating)

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.

Further Reading

Earnings History and Estimates for PPG Industries (NYSE:PPG)

Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.