PPG Industries (PPG) Outperforms Broader Market: What You Need to Know
In the latest trading session, PPG Industries (PPG) closed at $145.94, marking a +0.71% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.18%. Elsewhere, the Dow saw an upswing of 0.07%, while the tech-heavy Nasdaq appreciated by 0.1%.
Shares of the paint and coatings maker have depreciated by 0.05% over the course of the past month, underperforming the Basic Materials sector's gain of 3.98% and the S&P 500's gain of 2.75%.
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 January 18, 2024. The company's upcoming EPS is projected at $1.49, signifying a 22.13% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.27 billion, up 1.92% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for PPG Industries. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.37% downward. PPG Industries is currently a Zacks Rank #3 (Hold).
Investors should also note PPG Industries's current valuation metrics, including its Forward P/E ratio of 17.16. This denotes a premium relative to the industry's average Forward P/E of 15.36.
One should further note that PPG currently holds a PEG ratio of 1.11. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Chemical - Specialty industry had an average PEG ratio of 2.5 as trading concluded yesterday.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 37% of all industries, numbering over 250.
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.
To follow PPG in the coming trading sessions, be sure to utilize Zacks.com.
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PPG Industries, Inc. (PPG) : Free Stock Analysis Report
