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Stock Update (NYSE:PPG): PSA Group Gives Full Approval to ENVIRO-PRIME EPIC Electrocoat by PPG

[Business Wire] – PPG today announced that ENVIRO-PRIME® EPIC electrocoat technology has received full approval from the PSA Group following production line conversions and testing at two of the automaker’s facilities in Europe. Read more on this. PPG Industries, Inc. (PPG) , with a current value of $30.10B, began trading this morning at $109.70. Shares have traded today between $109.45 and $110.77 per share and has traded between $82.93 and $118.56 over the past 12 months. PPG shares are currently priced at 17.11x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 30.21x forward p/e ratio. And for income investors, the company pays shareholders $1.60 per share annually in dividends, yielding 1.48%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.86 per share, which 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 improvement 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. In terms of ratings, 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 $124.00, which is 13.04% above where the stock opened this morning. See more in (NYSE:PPG) Similar Articles: Stock Update (NYSE:PPG): Fiat Chrysler Automobiles Names PPG ‘Sustainability Supplier of the Year’ Stock Update (NYSE:PPG): PPG Marks Completion of $20 Million Electrocoat Center at Zhangjiagang, China, Facility Market Update (NYSE:PPG): PPG to Announce Fourth Quarter and Full-Year 2015 Results Jan. 21, 2016
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