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PPG Industries (PPG) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, PPG Industries (PPG - Free Report) closed at $130.28, marking a +1.18% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 0.58%.
The paint and coatings maker's stock has dropped by 5.57% in the past month, falling short of the Basic Materials sector's loss of 4.59% and the S&P 500's loss of 2.61%.
Analysts and investors alike will be keeping a close eye on the performance of PPG Industries in its upcoming earnings disclosure. The company's earnings report is set to go public on October 18, 2023. The company is forecasted to report an EPS of $1.94, showcasing a 16.87% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $4.63 billion, showing a 3.54% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.49 per share and a revenue of $18.19 billion, representing changes of +23.8% and +3.06%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PPG Industries. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. Right now, PPG Industries possesses a Zacks Rank of #3 (Hold).
Digging into valuation, PPG Industries currently has a Forward P/E ratio of 17.18. This expresses a premium compared to the average Forward P/E of 14.39 of its industry.
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. By the end of yesterday's trading, the Chemical - Specialty industry had an average PEG ratio of 2.27.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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PPG Industries (PPG) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, PPG Industries (PPG - Free Report) closed at $130.28, marking a +1.18% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 0.58%.
The paint and coatings maker's stock has dropped by 5.57% in the past month, falling short of the Basic Materials sector's loss of 4.59% and the S&P 500's loss of 2.61%.
Analysts and investors alike will be keeping a close eye on the performance of PPG Industries in its upcoming earnings disclosure. The company's earnings report is set to go public on October 18, 2023. The company is forecasted to report an EPS of $1.94, showcasing a 16.87% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $4.63 billion, showing a 3.54% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.49 per share and a revenue of $18.19 billion, representing changes of +23.8% and +3.06%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PPG Industries. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. Right now, PPG Industries possesses a Zacks Rank of #3 (Hold).
Digging into valuation, PPG Industries currently has a Forward P/E ratio of 17.18. This expresses a premium compared to the average Forward P/E of 14.39 of its industry.
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. By the end of yesterday's trading, the Chemical - Specialty industry had an average PEG ratio of 2.27.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.