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

PPG Industries (NYSE:PPG) 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 -.

Analysts Set New Price Targets

Several research firms have weighed in on PPG. 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. BMO Capital Markets dropped their price target 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. Royal Bank of Canada reduced their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Barclays decreased their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Finally, KeyCorp cut their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Up 0.4 %

PPG opened at $130.36 on Thursday. PPG Industries has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The company’s 50-day moving average is $126.73 and its 200 day moving average is $129.26. The firm has a market capitalization of $30.57 billion, a P/E ratio of 22.02, a PEG ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. PPG Industries’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 EPS. Research analysts expect that PPG Industries will post 8.24 earnings per share for the current fiscal year.

About PPG Industries

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.