PPG Industries (NYSE:PPG - Get Free Report) announced its earnings results on Wednesday. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02), Briefing.com reports. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $2.07 EPS. The company's revenue was down 1.5% compared to the same quarter last year. PPG Industries updated its FY 2024 guidance to 8.150-8.150 EPS.
Shares of NYSE:PPG opened at $130.36 on Thursday. The stock has a market capitalization 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 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. The business has a 50-day moving average price of $126.73 and a two-hundred day moving average price of $129.26.
Several equities analysts have commented on the company. UBS Group upped their price target on PPG Industries from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, July 19th. Bank of America cut their target price 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. Royal Bank of Canada decreased their price target on shares of PPG Industries from $140.00 to $139.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 23rd. BMO Capital Markets dropped their price objective on shares of PPG Industries from $165.00 to $161.00 and set an "outperform" rating for the company in a research note on Monday, July 22nd. Finally, KeyCorp decreased their target price on shares of PPG Industries from $162.00 to $153.00 and set an "overweight" rating on the stock in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has an average rating of "Moderate Buy" and an average price target of $151.08.
Read Our Latest Research Report on 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.
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