We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PPG Industries (PPG) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
PPG Industries (PPG - Free Report) closed the most recent trading day at $128.03, moving -0.45% from the previous trading session. This change lagged the S&P 500's 0.02% gain on the day. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the paint and coatings maker had lost 8.76% in the past month. In that same time, the Basic Materials sector gained 0.76%, while the S&P 500 lost 2.86%.
Investors will be hoping for strength from PPG Industries as it approaches its next earnings release, which is expected to be October 18, 2023. The company is expected to report EPS of $1.95, up 17.47% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.63 billion, up 3.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.51 per share and revenue of $18.23 billion. These totals would mark changes of +24.13% and +3.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for PPG Industries. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. PPG Industries is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, PPG Industries currently has a Forward P/E ratio of 17.13. This represents a premium compared to its industry's average Forward P/E of 14.49.
Investors should also note that PPG has a PEG ratio of 1.03 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Chemical - Specialty stocks are, on average, holding a PEG ratio of 2.57 based on yesterday's closing prices.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PPG in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PPG Industries (PPG) Stock Sinks As Market Gains: What You Should Know
PPG Industries (PPG - Free Report) closed the most recent trading day at $128.03, moving -0.45% from the previous trading session. This change lagged the S&P 500's 0.02% gain on the day. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the paint and coatings maker had lost 8.76% in the past month. In that same time, the Basic Materials sector gained 0.76%, while the S&P 500 lost 2.86%.
Investors will be hoping for strength from PPG Industries as it approaches its next earnings release, which is expected to be October 18, 2023. The company is expected to report EPS of $1.95, up 17.47% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.63 billion, up 3.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.51 per share and revenue of $18.23 billion. These totals would mark changes of +24.13% and +3.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for PPG Industries. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. PPG Industries is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, PPG Industries currently has a Forward P/E ratio of 17.13. This represents a premium compared to its industry's average Forward P/E of 14.49.
Investors should also note that PPG has a PEG ratio of 1.03 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Chemical - Specialty stocks are, on average, holding a PEG ratio of 2.57 based on yesterday's closing prices.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PPG in the coming trading sessions, be sure to utilize Zacks.com.