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Market Update (NYSE:PPG): PPG Marks Completion of $10 Million Coatings Center of Excellence in Tianjin, China

[Business Wire] – TIANJIN, China–(BUSINESSWIRE)– PPG ( NYSE:PPG – News) today held a ceremony marking the completion of a new $10 million coatings center of excellence at its existing complex in Tianjin, China. The new facility will serve regional customers in the automotive plastics and decorative accessories industry. The new coatings center, which is the first PPG facility in China dedicated to customers in this part of the automotive supply chain, offers world-class development and process capabilities to help PPG customers that manufacture automotive decorative parts achieve better color consistency and shorter lead times. Read more on this. PPG Industries, Inc. (PPG) , valued at $29.23B, opened this morning at $106.85. Looking at today’s market, PPG one day range is $106.92 to $107.61 and has traded between $82.93 and $118.69 over the past year. PPG shares are currently priced at 17.09x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 31.11x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.60 per share annually in dividends, yielding 1.46%. According to a consensus of 19 analysts, the earnings estimate of $1.86 per share would be $0.19 better than the year-ago quarter and a $0.01 sequential increase. Investors should also note that the full-year EPS estimate of $6.30 is a $0.61 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.17 Billion. If reported, that would be a 1.71% 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. When considering if perhaps the stock is under or overvalued, the average price target is $124.00, which is 16.05% above where the stock opened this morning. See more in (NYSE:PPG) Similar Articles: Market Update: PPG Industries Inc (NYSE:PPG) – PPG Comex Opens 4,000th Paint and Coatings Retail Location in Mexico Stock Update (NYSE:PPG): PPG Marks Completion of $20 Million Electrocoat Center at Zhangjiagang, China, Facility Market Update (NYSE:PPG): PPG Begins Using Chloride-Based TiO2 from Henan Billions in Coatings Production
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