PPG Industries (PPG) Stock Dips While Market Gains: Key Facts
PPG Industries (PPG) closed the most recent trading day at $136.45, moving -0.14% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.06%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.11%.
Prior to today's trading, shares of the paint and coatings maker had gained 11.99% over the past month. This has outpaced the Basic Materials sector's gain of 8.48% and the S&P 500's gain of 8.22% in that time.
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. Simultaneously, our latest consensus estimate expects the revenue to be $4.27 billion, showing a 1.92% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.64 per share and a revenue of $18.17 billion, indicating changes of +26.28% and +2.94%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Currently, PPG Industries is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that PPG Industries has a Forward P/E ratio of 17.88 right now. This represents a premium compared to its industry's average Forward P/E of 16.98.
Investors should also note that PPG has a PEG ratio of 1.15 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Chemical - Specialty industry had an average PEG ratio of 2.74 as trading concluded yesterday.
The Chemical - Specialty industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 19% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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
