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PPG

PPG

$116.49

-0.115 (-0.10%)

13:49
07/18/19
07/18
13:49
07/18/19
13:49

PPG says Q2 EPS impacted by lower global industrial production

According to prepared remarks ahead of PPG's Q2 earnings call, EPS was impacted by lower global industrial production; wetter than normal weather conditions in the U.S. and Europe, which impacted the architectural businesses; and unfavorable foreign currency translation. Positively impacting earnings were higher selling prices, savings of nearly $20M from previously announced cost savings programs and continued discretionary cost management. The unfavorable foreign currency translation totaled about $20M and resulted from strengthening of the U.S. dollar compared to the euro, Chinese RMB, British pound and several emerging region currencies in the second quarter. Adjusted earnings per diluted share were modestly higher year-over-year, excluding the impact of currency translation.

  • 18

    Jul

  • 05

    Aug

PPG PPG
$116.49

-0.115 (-0.10%)

03/22/19
03/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PPG (PPG) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying PPG shares have been drifting higher in 2019 as the market continues to prefer higher quality and less cyclical materials companies, however general economic business conditions are "arguably weaker than they have been because of decreased rates of economic growth in China and in Europe." 2. Sherwin-Williams (SHW) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 3. Booking Holdings (BKNG) downgraded to Neutral from Outperform at Wedbush with analyst James Hardiman stating that he believes the company's dominant position in Europe will be favorable in the long term, but is likely to represent a liability in 2019 as it is could amplify risks of earnings revisions and multiple compression. 4. Biogen (BIIB) downgraded to Underweight from Overweight at Morgan Stanley with analyst Matthew Harrison citing the failure of two Alzheimer's disease trials and noting that his optimism on Alzheimer's was "completely wrong." 5. Lululemon (LULU) downgraded to Neutral from Outperform at Wedbush with analyst Jen Redding saying that while she continues to see lululemon as best in class among specialty retailers, she is moving to the sidelines in anticipation of potentially less margin upside ahead, based on insights from proprietary data products. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/19
KEYB
04/12/19
NO CHANGE
Target $125
KEYB
Overweight
PPG price target raised to $125 from $117 at KeyBanc
KeyBanc analyst Michael Sison reiterated an Overweight rating on PPG and raised his price target to $125, saying the company has good leverage to demand recovery and should begin to see benefits of higher pricing closing the raw material gap helping to offset negative foreign currency pressures and "sluggish" auto OEM and European demand.
04/22/19
DBAB
04/22/19
NO CHANGE
Target $134
DBAB
Buy
PPG price target raised to $134 from $120 at Deutsche Bank
Deutsche Bank analyst David Begleiter raised his price target for PPG Industries to $134 from $120 following the company's "solid" Q1 results. PPG is executing well on its pricing and cost reduction initiatives in a weak macro environment and the current valuation is attractive, Begleiter tells investors in a post-earnings research note. He keeps a Buy rating on the shares.
07/09/19
SOCG
07/09/19
INITIATION
Target $138
SOCG
Buy
PPG initiated with a Buy at Societe Generale
Societe Generale initiated PPG with a Buy rating and $138 price target.

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