PPG Industries (NYSE:PPG) Releases FY 2024 Earnings Guidance

PPG Industries (NYSE:PPG - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 8.150-8.150 for the period, compared to the consensus estimate of 8.220. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup reduced their price target on PPG Industries from $145.00 to $144.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. UBS Group lifted their price target on shares of PPG Industries from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Friday, July 19th. Barclays decreased their price target on shares of PPG Industries from $148.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, July 22nd. BMO Capital Markets dropped their price objective on PPG Industries from $165.00 to $161.00 and set an "outperform" rating on the stock in a research note on Monday, July 22nd. Finally, KeyCorp decreased their target price on PPG Industries from $162.00 to $153.00 and set an "overweight" rating for the company in a research note on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $151.08.

PPG Industries Stock Up 0.4 %

Shares of NYSE:PPG traded up $0.49 during mid-day trading on Wednesday, reaching $130.36. 2,004,723 shares of the stock were exchanged, compared to its average volume of 1,596,211. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. PPG Industries has a one year low of $118.07 and a one year high of $151.16. The company has a market cap of $30.57 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.72 and a beta of 1.26. The stock's 50 day simple moving average is $126.73 and its 200-day simple moving average is $129.26.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.02. The business had revenue of $4.79 billion for 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%. PPG Industries's revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 earnings per share. As a group, equities research analysts predict that PPG Industries will post 8.24 EPS for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were paid a $0.68 dividend. This is an increase from PPG Industries's previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, August 12th. PPG Industries's dividend payout ratio (DPR) is 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.