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Company Update (NYSE:PPG): PPG Directors Announce Quarterly Dividend of 36 Cents Per Share

[Business Wire] – The board of directors of PPG Industries today declared a regular quarterly dividend of 36 cents per share, payable March 11 to shareholders of record Feb. 19. Read more on this. PPG Industries, Inc. (PPG) , with a current market cap of $24.69B, opened at $93.00. Today, shares have traded between $90.61 and $94.67 per share with a one year range of $82.93 to $118.95. PPG shares are currently priced at 16.44x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 6.31x 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 1.57%. According to a consensus of 19 analysts, the earnings estimate of $1.22 per share would be $0.16 better than the year-ago quarter and a $0.01 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $5.69 is a $0.81 better 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 $3.75 Billion. If realized, that would be a 1.08% increase over the year-ago quarter. In terms of ratings, Seaport Global Securities Initiated PPG at Accumulate (Jan 5, 2016). Previously, UBS upgraded PPG from Neutral to Buy. With the above information in mind, readers should note that the average price target is $118.00, which is 26.88% above where the stock opened this morning. See more in (NYSE:PPG) Similar Articles: Market Update (NYSE:PPG): PPG to Announce Fourth Quarter and Full-Year 2015 Results Jan. 21, 2016 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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