Analysts Set Expectations for PPG Industries, Inc.’s Q3 2024 Earnings (NYSE:PPG)

PPG Industries, Inc. (NYSE:PPG) – Investment analysts at KeyCorp issued their Q3 2024 earnings per share estimates for shares of PPG Industries in a research note issued on Sunday, October 6th. KeyCorp analyst A. Yefremov anticipates that the specialty chemicals company will post earnings per share of $2.14 for the quarter. KeyCorp has a “Overweight” rating and a $153.00 price objective on the stock. The consensus estimate for PPG Industries’ current full-year earnings is $8.25 per share. KeyCorp also issued estimates for PPG Industries’ Q4 2024 earnings at $1.74 EPS, FY2024 earnings at $8.25 EPS and FY2025 earnings at $9.07 EPS.

Other equities analysts also recently issued reports about the stock. Citigroup decreased their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. UBS Group upped their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Royal Bank of Canada decreased their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets dropped their target price on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Barclays reduced their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Trading Up 0.2 %

Shares of PPG opened at $127.44 on Wednesday. The firm’s 50-day moving average price is $125.96 and its 200-day moving average price is $129.78. The firm has a market capitalization of $29.73 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.76 and a beta of 1.26. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries has a 1-year low of $118.07 and a 1-year high of $151.16.

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

Hedge Funds Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently bought and sold shares of PPG. Richardson Financial Services Inc. bought a new stake in shares of PPG Industries in the fourth quarter worth approximately $29,000. YHB Investment Advisors Inc. bought a new stake in PPG Industries in the 1st quarter worth approximately $29,000. Financial Connections Group Inc. bought a new stake in PPG Industries in the 2nd quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in PPG Industries during the 1st quarter valued at $34,000. Finally, Rothschild Investment LLC bought a new position in shares of PPG Industries during the 2nd quarter valued at $37,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were issued a $0.68 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.13%. PPG Industries’s dividend payout ratio (DPR) is presently 45.95%.

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.