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Market Update: PPG Industries Inc (NYSE:PPG) – PPG Comex Opens 4,000th Paint and Coatings Retail Location in Mexico

[Business Wire] – PPG Industries announced today that PPG Comex has opened its 4,000th paint and coatings store in Mexico. The store is located in Mexico City. Read more on this. PPG Industries, Inc. (PPG) , valued at $25.86B, opened this morning at $95.33. Looking at the equity, the company’s one day range is $93.79 to $95.56 and has traded between $82.93 and $118.95 over the past year. Priced at 16.60x this year’s forecasted earnings, PPG shares are relatively expensive compared to the industry’s 8.56x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $1.44 per share annually in dividends, yielding 1.52%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $1.23 per share, which would be $0.17 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $5.69 is a $0.81 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.76 Billion. If realized, that would be a 1.35% increase over the year-ago quarter. Recently, Seaport Global Securities Initiated PPG at Accumulate (Jan 5, 2016). Previously, UBS upgraded PPG from Neutral to Buy. The average price target for PPG shares is $118.65, which is 24.46% above where the stock opened this morning. See more in (NYSE:PPG) Similar Articles: Market Update (NYSE:PPG): PPG Begins Using Chloride-Based TiO2 from Henan Billions in Coatings Production 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
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