Today: The PPG Industries Inc. (PPG) to Release Earnings on Thursday

The PPG Industries Inc. (PPG) to Release Earnings on Thursday

PPG Industries Inc. (NYSE:PPG) is scheduled to be announcing its Q316 earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $1.71 per share and revenue of $3.83 billion for the quarter.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.85. PPG Industries had a return on equity of 30.94% and a net margin of 9.57%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same period last year, the company earned $1.67 EPS. PPG Industries’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts expect PPG Industries to post $6.17 EPS for the current fiscal year and $6.80 EPS for the next fiscal year.

PPG Industries Inc. (NYSE:PPG) opened at 92.66 on Tuesday. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 17.12 and a beta of 1.47. The company’s 50-day moving average price is $101.25 and its 200 day moving average price is $106.21. PPG Industries Inc. has a 52-week low of $88.37 and a 52-week high of $117.00.

In related news, insider Viktoras R. Sekmakas sold 40,950 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total value of $4,366,908.00. Following the transaction, the insider now owns 69,044 shares of the company’s stock, valued at $7,362,852.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.08, for a total value of $967,944.00. Following the completion of the transaction, the vice president now directly owns 11,806 shares in the company, valued at approximately $1,228,768.48. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of PPG Industries by 2.5% in the second quarter. FMR LLC now owns 16,985,838 shares of the company’s stock valued at $1,769,075,000 after buying an additional 409,325 shares during the period. BlackRock Fund Advisors boosted its position in shares of PPG Industries by 7.9% in the second quarter. BlackRock Fund Advisors now owns 3,318,625 shares of the company’s stock valued at $345,635,000 after buying an additional 242,377 shares during the period. American Century Companies Inc. boosted its position in shares of PPG Industries by 33.5% in the second quarter. American Century Companies Inc. now owns 1,736,674 shares of the company’s stock valued at $180,875,000 after buying an additional 435,308 shares during the period. Teachers Advisors Inc. boosted its position in shares of PPG Industries by 7.5% in the second quarter. Teachers Advisors Inc. now owns 1,065,030 shares of the company’s stock valued at $110,923,000 after buying an additional 74,287 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of PPG Industries by 3.8% in the second quarter. APG Asset Management N.V. now owns 746,945 shares of the company’s stock valued at $77,794,000 after buying an additional 27,300 shares during the period. 73.01% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Citigroup Inc. decreased their target price on PPG Industries from $131.00 to $112.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $111.00 target price (down from $119.00) on shares of PPG Industries in a research report on Thursday, October 13th. Seaport Global Securities upgraded PPG Industries from an “accumulate” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $130.00 in a research report on Tuesday, July 26th. Finally, Royal Bank Of Canada decreased their target price on PPG Industries from $125.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 11th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $115.46.

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