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Stock Update (NYSE:PPG): PPG Marks Completion of $20 Million Electrocoat Center at Zhangjiagang, China, Facility

[Business Wire] – PPG Industries today held a ceremony marking the completion of a $20 million center for on-site electrocoat coatings blending at its resin manufacturing facility in Zhangjiagang, China. Read more on this. PPG Industries, Inc. (PPG) , with a current value of $26.12B, started trading this morning at $95.68. Today’s price range has been between $94.79 and $96.64 per share with the price of the stock fluctuating between $82.93 to $118.95 over the last 52 weeks. PPG shares are currently priced at 16.95x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.56x earnings multiple. The company pays shareholders $1.44 per share annually in dividends, yielding 1.46%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.23 per share, which would be $0.17 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $5.69 which would be a $0.81 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.76 Billion. If reported, that would be a 1.35% increase over the year-ago quarter. More recently, Seaport Global Securities Initiated PPG at Accumulate (Jan 5, 2016). Previously, UBS upgraded PPG from Neutral to Buy. When considering if the stock is under or overvalued, the average price target is $118.65, which is 24.01% above where the stock opened this morning. See more in (NYSE:PPG) Similar Articles: Stock Update: PPG Industries Inc (NYSE:PPG) – PPG Completes $27 Million Expansion at San Juan del Rio, Mexico, Facility Company Update: PPG Industries Inc (NYSE:PPG) – PPG Marks 30 Years of Coatings Application Development at Flint, Michigan, Center Company Update (NYSE:PPG): PPG Lifts Fresno Glass Manufacturing Force Majeure, Will Invest $20 Million in 2016 for Facility Enhancements
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