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PPG Industries (PPG) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, PPG Industries (PPG - Free Report) closed at $145.37, marking a -0.32% move from the previous day. This change lagged the S&P 500's daily gain of 0.46%. Elsewhere, the Dow gained 0.48%, while the tech-heavy Nasdaq added 0.7%.
The the stock of paint and coatings maker has risen by 12.81% in the past month, leading the Basic Materials sector's gain of 5.86% and the S&P 500's gain of 4.85%.
Market participants will be closely following the financial results of PPG Industries in its upcoming release. The company's upcoming EPS is projected at $1.49, signifying a 22.13% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $4.27 billion, indicating a 1.92% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.64 per share and revenue of $18.16 billion, indicating changes of +26.28% and +2.89%, respectively, compared to the previous year.
Any recent changes to analyst estimates for PPG Industries should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, PPG Industries holds a Zacks Rank of #3 (Hold).
Looking at its valuation, PPG Industries is holding a Forward P/E ratio of 19.08. This represents a premium compared to its industry's average Forward P/E of 17.03.
It's also important to note that PPG currently trades at a PEG ratio of 1.23. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Chemical - Specialty industry stood at 2.76 at the close of the market yesterday.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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PPG Industries (PPG) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, PPG Industries (PPG - Free Report) closed at $145.37, marking a -0.32% move from the previous day. This change lagged the S&P 500's daily gain of 0.46%. Elsewhere, the Dow gained 0.48%, while the tech-heavy Nasdaq added 0.7%.
The the stock of paint and coatings maker has risen by 12.81% in the past month, leading the Basic Materials sector's gain of 5.86% and the S&P 500's gain of 4.85%.
Market participants will be closely following the financial results of PPG Industries in its upcoming release. The company's upcoming EPS is projected at $1.49, signifying a 22.13% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $4.27 billion, indicating a 1.92% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.64 per share and revenue of $18.16 billion, indicating changes of +26.28% and +2.89%, respectively, compared to the previous year.
Any recent changes to analyst estimates for PPG Industries should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, PPG Industries holds a Zacks Rank of #3 (Hold).
Looking at its valuation, PPG Industries is holding a Forward P/E ratio of 19.08. This represents a premium compared to its industry's average Forward P/E of 17.03.
It's also important to note that PPG currently trades at a PEG ratio of 1.23. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Chemical - Specialty industry stood at 2.76 at the close of the market yesterday.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.