PPG Industries Inc. [NYSE: PPG] will report earnings after markets close on Thursday, January 21st.
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PPG Earnings Forecast For The Current Quarter
PPG Industries Inc. [PPG] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $3.59B and an earnings per share of $1.58 for Dec 2020. Looking further ahead, the company is expected to report revenue of $3.62B at an EPS of $1.47 for Mar 2021. The estimates represent downside of 12.60% and 21.44% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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PPG Earnings Estimates For The Current Year
For the financial year, PPG Industries Inc. [NYSE:PPG] is expected to bring in revenue of $13.68B. The returns are nearly $-1.47 billion lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 5.69, lower than that of FY19 by -$0.53. Estimates put this year’s earnings growth at -8.50%, 21.80% for the next, and at an annual 8.48% over the next 5-year period. As for sales, forecasts are for a decrease of -9.70% in the current fiscal year and a further 12.60% over the following year.
PPG Price Performance
On Wall Street, PPG Industries Inc. [NYSE:PPG] finished Tuesday’s session down -2.03% at $145.04. The stock went up to $149.39 at the same session while its lowest single day price was $144.96. In the last five days, it saw a fall of about -2.95%, PPG Industries Inc. shares gained by almost 0.57% since the beginning of the year. However, the share price has dropped to as low as -5.70% below its one year high. On 01/14/21, the company shares recorded $153.81, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $140.83. The company’s shares have inclined by 12.88% in the past year. The 50-day SMA achieved is $145.01 while the 200-day SMA is $119.65. Volume dropped to 1.9 million from 2.94 million in the previous session.
PPG Industries Inc. [PPG] Valuation Measures
Notably, PPG Industries Inc. [PPG] stock cannot be classified as a good candidate in the listing of underestimated low-priced Specialty Chemicals companies to purchase soonest possible with the prevailing 12-month PE ratio of 31.98. The measure means the stock is exchanging at a premium as compared to the 23.96x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 2.55 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.44 which means PPG serve an unattractive investment opportunity compared to its competitors.
PPG Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 145.04 level, and in case of violation of this particular level, it will cause more drop to 143.54 level. On the upper level, 152.40 is still the key resistance. The stock may increase to the subsequent resistance at 150.89. The Relative Strength Index (RSI) pinned on the 14-day chart is 47.28, implying a neutral technical stance while the MACD stands at 1.02, meaning price will increase in the next trading period. Percent R indicator moved to 67.54%, implying low price movement. Stochastic %K at 47.86% suggest holding the stock.
Is PPG Industries Inc. [NYSE:PPG] a Good Buy Right Now?
It should be noted that PPG technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from PPG Industries Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 1.34 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 1.14 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.27 million shares.
What is the short interest in PPG Industries Inc.?
Short interest in the PPG Industries Inc. stock has plunged, decreasing by -0.42 million shares to total 3.74 million shares on Dec 30, 2020. The interest had seen shares on Nov 29, 2020 stand at 3.32 million, data from Yahoo Finance shows. The increase of 11.23% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 1.58% of the overall float for the stock.
PPG Industries Inc.’s Biggest Shareholders: Who Owns PPG Industries Inc. [PPG]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 18,405,329 shares or roughly 7.79% of the outstanding PPG shares. This means their shares have reduced by -220,756 from the 18,405,329 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Massachusetts Financial Services updated stake is worth $2,585,244,166. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 4.61% stake valued at $1,779,514,283 while SSgA Funds Management, Inc. cut theirs at $1,579,143,524. During the last quarter, BlackRock Fund Advisors raised 543,977 of its shares in PPG Industries Inc. while SSgA Funds Management, Inc. sold -437,884 shares. The Wellington Management Co. LLP’s holdings currently number 8,259,180 shares at $1197911467.2. According to the firm’s last 13F report, T. Rowe Price Associates, Inc. shares in the company at filing stood at 7,788,047 shares, roughly $1,123,192,138.
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What are analyst thoughts on PPG Industries Inc.?
Looking forward to the PPG Industries Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for PPG Industries Inc. stock at $159.00 within the next 12 months, which represents almost 8.78 per cent growth from its previous closing price of $145.04. The highest analysts’ target for PPG Industries Inc. stock projections is $182.00 and the lowest one is $122.00. Still, 27 analysts sharing their consensus rating for PPG stock in 2021 agree that it is an Overweight.
