PPG Industries (PPG) Increases Despite Market Slip: Here's What You Need to Know
The most recent trading session ended with PPG Industries (PPG) standing at $142.70, reflecting a +0.04% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Coming into today, shares of the paint and coatings maker had gained 11.61% in the past month. In that same time, the Basic Materials sector gained 2.7%, while the S&P 500 gained 5.08%.
Investors will be eagerly watching for the performance of PPG Industries in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.49, indicating a 22.13% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.27 billion, indicating a 1.92% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $7.64 per share and a revenue of $18.17 billion, demonstrating changes of +26.28% and +2.94%, respectively, from the preceding year.
Any recent changes to analyst estimates for PPG Industries should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, PPG Industries holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that PPG Industries has a Forward P/E ratio of 18.67 right now. This represents a premium compared to its industry's average Forward P/E of 16.76.
One should further note that PPG currently holds a PEG ratio of 1.2. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Chemical - Specialty industry currently had an average PEG ratio of 2.73 as of yesterday's close.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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, Inc. (PPG) : Free Stock Analysis Report
