La vendita allo scoperto per PPG Indus dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di PPG Indus. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

PPG Indus (NYSE:PPG) Azioni, Report sulle vendite allo scoperto

PPG Indus

PPG is a global producer of coatings. The company is the world's largest producer of coatings after the purchase of selected Akzo Nobel assets. PPG's products are sold to a wide variety of end users, including the automotive, aerospace, construction, and industrial markets. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years. PPG is focused on its coatings and specialty products and expansion into emerging regions, as exemplified by the Comex acquisition.

PPG Industries

PPG Industries Inc

PPG INDUSTRIES ORD

PPG Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) will release earnings results for its third quarter after the <a href="https://www.benzinga.com/quote/ppg/earnings">closing bell on Wednesday, Oct. 16.</a>
Analysts expect the Pittsburgh, Pennsylvania-based bank to report quarterly earnings at $2.15 per share, up from $2.07 per share in the year-ago period. PPG projects to report revenue of $4.65 billion for the recent quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Oct. 8, PPG and Shaw Industries signed a strategic agreement for resinous flooring products.
PPG shares gained 1.1% to close at $129.87 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TCOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Keybanc analyst Aleksey Yefremov maintained an Overweight rating and cut the price target from $162 to $153 on July 22. This analyst has an accuracy rate of 67%.</li>
<li>Citigroup analyst Patrick Cunningham maintained a Buy rating and lowered the price target from $145 to $144 on July 22. This analyst has an accuracy rate of 72%.</li>
<li>BMO Capital analyst John McNulty maintained an Outperform rating and cut the price target from $165 to $161 on July 22. This analyst has an accuracy rate of 68%.</li>
<li>Seaport Global analyst Michael Harrison assumed coverage from Neutral to Buy on April 22. This analyst has an accuracy rate of 70%.</li>
<li>Deutsche Bank analyst David Begleiter maintained a Buy rating and lowered the price target from $160 to $155 on April 22. This analyst has an accuracy rate of 74%.</li>
</ul>
Considering buying PPG stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="505" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16040316/image-120-1024x505.png" alt="" class="wp-image-597648" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16040316/image-120-1024x505.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16040316/image-120-300x148.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16040316/image-120-768x379.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16040316/image-120.png 1323w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Earnings

News

Price Target

Markets

Analyst Ratings

PPG Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-10-16. Here's what investors need to know before the announcement.
Analysts estimate that PPG Indus will report an earnings per share (EPS) of $2.15. 
Anticipation surrounds PPG Indus's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Performance in Previous Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.02, leading to a 2.79% drop in the share price on the subsequent day.
Here's a look at PPG Indus's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.48</td>
<td>1.86</td>
<td>1.50</td>
<td>1.95</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.50</td>
<td>1.86</td>
<td>1.53</td>
<td>2.07</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>-3.0%</td>
<td>-2.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729004513_0.png" alt="eps graph" />
<h3>Tracking PPG Indus's Stock Performance</h3>
Shares of PPG Indus were trading at $128.5 as of October 14. Over the last 52-week period, shares are up 2.63%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analysts' Take on PPG Indus</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on PPG Indus.
Analysts have given PPG Indus a total of 7 ratings, with the consensus rating being Neutral. The average one-year price target is $147.57, indicating a potential 14.84% upside.
<h3>Peer Ratings Comparison</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Intl Flavors &amp; Fragrances, DuPont de Nemours and RPM Intl, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>The consensus among analysts is an Outperform trajectory for Intl Flavors &amp; Fragrances, with an average 1-year price target of $109.78, indicating a potential 14.57% downside.</li>
<li>For DuPont de Nemours, analysts project an Buy trajectory, with an average 1-year price target of $93.0, indicating a potential 27.63% downside.</li>
<li>As per analysts' assessments, RPM Intl is favoring an Neutral trajectory, with an average 1-year price target of $132.92, suggesting a potential 3.44% upside.</li>
</ul>
<h3>Peers Comparative Analysis Summary</h3>
The peer analysis summary provides a snapshot of key metrics for Intl Flavors &amp; Fragrances, DuPont de Nemours and RPM Intl, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>PPG Indus</td>
<td>Neutral</td>
<td>-1.60%</td>
<td>$2.06B</td>
<td>6.72%</td>
</tr>
<tr>
<td>Intl Flavors &amp; Fragrances</td>
<td>Outperform</td>
<td>-1.37%</td>
<td>$1.07B</td>
<td>1.19%</td>
</tr>
<tr>
<td>DuPont de Nemours</td>
<td>Buy</td>
<td>2.49%</td>
<td>$1.18B</td>
<td>0.76%</td>
</tr>
<tr>
<td>RPM Intl</td>
<td>Neutral</td>
<td>-2.14%</td>
<td>$836.67M</td>
<td>8.79%</td>
</tr>
</tbody>
</table>

Key Takeaway:
PPG Indus ranks in the middle for revenue growth among its peers. It ranks at the top for gross profit. It is at the bottom for return on equity.
<h3>Unveiling the Story Behind PPG Indus</h3>
PPG is a global producer of coatings. The company is the world's largest producer of coatings after the purchase of selected Akzo Nobel assets. PPG's products are sold to a wide variety of end users, including the automotive, aerospace, construction, and industrial markets. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years. PPG is focused on its coatings and specialty products and expansion into emerging regions, as exemplified by the Comex acquisition.
<h3>PPG Indus: Delving into Financials</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Challenges: PPG Indus's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -1.6%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Materials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 11.01%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 6.72%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): PPG Indus's ROA excels beyond industry benchmarks, reaching 2.42%. This signifies efficient management of assets and strong financial health.
Debt Management: PPG Indus's debt-to-equity ratio is below the industry average. With a ratio of 0.93, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<a href="https://www.benzinga.com/quote/PPG/earnings">To track all earnings releases for PPG Indus visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: PPG Indus

PPG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) today announced that it has signed a strategic agreement with flooring leader Shaw Industries Group, Inc. to offer the PPG FLOORING&#x2122; line of resinous flooring products. The products will be available to Shaw's customers in the commercial property market via its Patcraft&#xAE; brand. The partnership helps expand the market reach for PPG's products and adds to Shaw's expansive portfolio of flooring and surface solutions.

PPG And Shaw Industries Sign Strategic Agreement For Resinous Flooring Products, Products Will Be Available To Shaw's Customers In The Commercial Property Market Via Its Patcraft Brand

Management

PPG Names Kevin Braun Senior VP Of Operations Effective October 1, 2024, Succeeding Ram Vadlamannati Who Will Retire After 25 Years; Braun To Oversee Operations, Supply Chain, And Coatings

PPG Industries Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ppg#NYSE">PPG</a>) has announced that it will demonstrate its digital and sustainable solutions at Automechanika Frankfurt 2024, the world&#39;s premier trade fair for the automotive aftermarket, which will be held at the Messe Frankfurt exhibition center in Germany from&nbsp; Sept. 10-14. PPG will highlight the latest advances in digital tools and sustainable technologies on the fifth anniversary of the introduction of the PPG Moonwalk automated mixing machine.
Visitors will be able to get a firsthand experience of the novel solutions that are set to boost the efficiency, precision and sustainability of automotive refinishing. Demonstrations of PPG&#39;s latest digital technologies will include tools from the PPG LINQ digital ecosystem that improve body shop precision and productivity.
PPG will also feature products and processes that promote sustainability in the automotive sector. Customers can accomplish environmental targets by using featured solutions such as airdry technology and innovations in primer and basecoat technology, which result in considerable energy savings and carbon emission reductions due to shorter process times and lower curing temperatures. Sustainably advantageous products are discovered utilizing PPG&#39;s own methodology, which assesses product features and their contribution to the UN Sustainable Development Goals.
Shares of PPG have lost 8% over the past year compared with a 9.8% decline of its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ce/76800.jpg?v=425180942" />
Image Source: Zacks Investment Research
In the second quarter, PPG saw a mid-single-digit percentage year-over-year decline in organic sales for automotive refinish coatings. Sales volumes in the United States declined, while Latin America saw modestly lower organic sales. While demand in Europe was stable, China saw a demand recovery for refinish products. PPG&#39; LINQ services subscriptions grew, and it added around 230 Moonwalk installations in the quarter, further supporting its customer productivity and associated share gain.
PPG projects adjusted earnings per share for the third quarter in the range of $2.10-$2.20. For the full year, the company expects adjusted EPS in the range of $8.15 to $8.30. These projections consider various factors such as current global economic activity, uneven global industrial production, reduced global automotive production, stabilizing demand in Europe, sustained growth in Mexico and India and low single-digit growth in China.
<div class="chart_embed">
<h3>PPG Industries, Inc. Price and Consensus</h3>
<h2><img alt="PPG Industries, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/82/1725615806.png" style="height:265px; width:591px" title="" /></h2>
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
</div>
<h2>PPG&#39;s Zacks Rank &amp; Key Picks</h2>
PPG currently carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation, Eldorado Gold Corporation and Newmont Corporation.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company&#39;s shares have soared 125.1% in the past year.
The Zacks Consensus Estimate for Eldorado&#39;s current-year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. The Zacks Consensus Estimate for EGO&#39;s current-year earnings has been going up in the past 30 days. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company&#39;s shares have rallied roughly 80.5% in the past year.
The Zacks Consensus Estimate for Newmont&#39;s current-year earnings is pegged at $2.82, indicating a rise of 75% from the year-ago levels. The consensus mark for NEM&#39;s earnings has increased 14% in the past 60 days. NEM, a Zacks Rank #1 stock, has gained nearly 35.7% in the past year.
<a href="https://www.zacks.com/stock/news/2332544/ppg-industries-to-exhibit-digital-sustainable-solutions-in-frankfurt?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2332544">To read this article on Zacks.com click here.</a>

Earnings Beats

Large Cap

Trading Ideas

PPG Industries to Exhibit Digital & Sustainable Solutions in Frankfurt

Reported Earlier, PPG Expands Malaysian Plant With New Non-Stick And Low Friction Coatings Production Lines, Enhancing Regional Capabilities

General

PPG Has Agreed To Sell Its Silicas Products Business For Approximately $310M To Qemetica S.A., Poland-Based, Privately Held Manufacturer Of Soda Ash, Silicates And Other Specialty Chemicals. The Transaction Is Expected To Close In The Fourth Quarter Of 2024

Analysts' ratings for PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) over the last quarter vary from bullish to bearish, as provided by 8 analysts.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $146.62, a high estimate of $161.00, and a low estimate of $139.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 2.42%. 
<img src="https://www.benzinga.com/files/images/story/2024/1721743266_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The perception of PPG Indus by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Arun Viswanathan</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$139.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Aleksey Yefremov</td>
<td>Keybanc</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$153.00</td>
<td>$162.00</td>
</tr>
<tr>
<td>Steve Byrne</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$150.00</td>
<td>$152.00</td>
</tr>
<tr>
<td>Patrick Cunningham</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$144.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>John McNulty</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$161.00</td>
<td>$165.00</td>
</tr>
<tr>
<td>Michael Leithead</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$144.00</td>
<td>$148.00</td>
</tr>
<tr>
<td>Joshua Spector</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$142.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Joshua Spector</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$140.00</td>
<td>$150.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to PPG Indus. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of PPG Indus compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of PPG Indus's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of PPG Indus's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PPG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on PPG Indus analyst ratings.</a>
<h2>Discovering PPG Indus: A Closer Look</h2>
PPG is a global producer of coatings. The company is the world's largest producer of coatings after the purchase of selected Akzo Nobel assets. PPG's products are sold to a wide variety of end users, including the automotive, aerospace, construction, and industrial markets. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years. PPG is focused on its coatings and specialty products and expansion into emerging regions, as exemplified by the Comex acquisition.
<h3>Understanding the Numbers: PPG Indus's Finances</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Decline in Revenue: Over the 3 months period, PPG Indus faced challenges, resulting in a decline of approximately -1.6% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Materials sector.
Net Margin: PPG Indus's net margin is impressive, surpassing industry averages. With a net margin of 11.01%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): PPG Indus's ROE excels beyond industry benchmarks, reaching 6.72%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): PPG Indus's ROA excels beyond industry benchmarks, reaching 2.42%. This signifies efficient management of assets and strong financial health.
Debt Management: PPG Indus's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.93.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 8 Takes On PPG Indus

RBC Capital analyst Arun Viswanathan maintains PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) with a Sector Perform and lowers the price target from $140 to $139.

RBC Capital Maintains Sector Perform on PPG Indus, Lowers Price Target to $139

Keybanc analyst Aleksey Yefremov maintains PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) with a Overweight and lowers the price target from $162 to $153.

Keybanc Maintains Overweight on PPG Indus, Lowers Price Target to $153

B of A Securities analyst Steve Byrne maintains PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) with a Buy and lowers the price target from $152 to $150.

B of A Securities Maintains Buy on PPG Indus, Lowers Price Target to $150

Citigroup analyst Patrick Cunningham maintains PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) with a Buy and lowers the price target from $145 to $144.

Citigroup Maintains Buy on PPG Indus, Lowers Price Target to $144

BMO Capital analyst John McNulty maintains PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) with a Outperform and lowers the price target from $165 to $161.

BMO Capital Maintains Outperform on PPG Indus, Lowers Price Target to $161

Barclays analyst Michael Leithead maintains PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) with a Equal-Weight and lowers the price target from $148 to $144.

Barclays Maintains Equal-Weight on PPG Indus, Lowers Price Target to $144

Agreements include entitlement rights to Brickyard 400&nbsp;NASCAR CUP&nbsp;series race through 2029

Reported Sunday, PPG Extends Partnerships With Indianapolis Motor Speedway, INDYCAR, And Team Penske Through 2029

UBS analyst Joshua Spector maintains PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) with a Neutral and raises the price target from $140 to $142.

UBS Maintains Neutral on PPG Indus, Raises Price Target to $142

Wall Street is poised to close the week in the red, with all major indices trading in negative territory at midday in New York, as broader sentiment remains weak following a temporary tech outage caused by a cloud software update from CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) that led to widespread disruptions <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39858714/crowdstrike-shares-trim-heavy-losses-as-microsoft-announces-resolution-of-global-te">across several sectors worldwide.</a>
The S&amp;P 500 index is down 0.6% as of 12:50 p.m. ET, extending its weekly decline to 1.8%, marking its worst week since April.
The tech-heavy Nasdaq 100 is underperforming the broader market, down 1%, reflecting general weakness in the technology sector and bringing its weekly loss to 3.9%, also the worst in three months.
The Dow Jones is also affected by Friday&#8217;s weak sentiment, down 0.9%, though it still maintains in marginally positive territory for the week.
The small caps of the Russell 2000 index are down only 0.4%, poised to secure another week of relatively better performance compared to large caps.
Treasury yields are rising by a few basis points across the curve, with long-dated bonds — as tracked by the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) — breaking a two-week streak of gains. The dollar ticked higher by 0.1%, while gold fell by 0.4%.
Among commodities, oil is down 1.8%, with WTI light crude falling to $80 a barrel, its lowest level in a month.
In cryptocurrencies, Bitcoin (CRYPO: BTC) bulls are charging back, with the largest cryptocurrency rallying 3.9%, returning to $66,000, its highest level in a month.
Friday&#8217;s Performance In Major US Averages, ETFs
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices &amp; ETFs</td>
<td>Price</td>
<td>1-day %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,280.98</td>
<td>-0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,509.25</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,283.08</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,514.70</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.6% lower to $549.53.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell by 1% to $402.82.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) fell 0.8% to $475.87.</li>
<li>Sector-wise, the Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)&nbsp;outperformed, up by 0.4%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 1.3%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Shares of Crowdstrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) tumbled 11%, slightly trimming heavier pre-market losses. Industry peers like SentinelOne Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/S#NASDAQ">S</a>) and Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>), rose 8% and 2.5% respectively. </li>
<li>Hawaiian Electric Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) rallied over 30% on reports following a report suggesting the company reached a settlement plan over last year&#8217;s Maui wildfires.</li>
<li>Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) plummeted 11% on weaker-than-expected outlook on net interest income, despite reporting stronger-than-expected results last quarter. The company also announced it will no longer serve as the financial agent for the U.S. Treasury Direct Express Prepaid Debit Card program.</li>
<li>Other stocks reacting to company earnings were Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) down 1.1%, Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) up 8%, PPG Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) down 3.7%, Western Alliance Bancorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), up 8%, American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), down 3.4%, Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) up 3.3%, The Travelers Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) down over 7%, Halliburton Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>), Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), up 2.3%. </li>
<li>Crypto-linked stocks like Microstrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) rose 11.8%, 9.5% and 9.4%, respectively, as Bitcoin rallied. </li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39862630/goldman-sachs-turns-bearish-on-chipmakers-advises-to-hedge-through-put-options-chin">Goldman Sachs Turns Bearish On Chipmakers, Advises To Hedge Through Put Options: China Remains &#8216;A Major Risk For The Sector&#8217;</a></li>
</ul>
Photo via Shutterstock.

Analyst Color

Equities

Sector ETFs

Broad U.S. Equity ETFs

Econ #s

Tech

ETFs

COIN

CRWD

SPDR Dow Jones Industrial Average ETF Trust

HBAN

ISRG

MSTR

NFLX

PANW

RIOT

iShares Trust Barclays 20+ Year Treasury Bond Fund

Wall Street Eyes Worst Week In 3 Months As Tech Sector Falters; Oil Falls, Bitcoin Hits 1-Month Peak: What's Driving Market Friday?

PPG Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ppg#NYSE">PPG</a>) reported a second-quarter 2024 profit of $528 million or $2.24 per share, up from $490 million or $2.06 per share in the year-ago quarter.
In the second quarter, excluding one-time items, adjusted earnings per share increased to $2.50 from $2.25 in the year-ago quarter, surpassing the Zacks Consensus Estimate of $2.48.
The company&#39;s revenues were $4,794 million in the quarter, down 1.6% year over year. The top line missed the Zacks Consensus Estimate of $4,913.5 million.
<div class="chart_embed">
<h3>PPG Industries, Inc. Price, Consensus and EPS Surprise</h3>
<h3><img alt="PPG Industries, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/d7/1721387769.png" style="height:265px; width:591px" title="" /></h3>
PPG Industries, Inc. price-consensus-eps-surprise-chart | PPG Industries, Inc. Quote
</div>
<h3>Segment Review</h3>
Performance Coatings&#39; second-quarter revenues were $3,048 million. The segment&#39;s net sales were stable, as improved selling prices were offset by the sale of the non-North American portion of the traffic solutions business and adverse foreign currency translation. The figure was below our estimate of $3,101.8 million.
Industrial Coatings generated revenues of $1,746 million, a 4.6% year-over-year decrease. The fall is due to lower selling prices from certain index-based customer contracts and unfavorable foreign currency translation. The figure was below our estimate of $1,831.9 million.
<h3>Financials</h3>
The company had $1.2 billion in cash and short-term investments as of the end of the quarter. Net debt was $5.2 billion, down $0.4 billion from the prior-year quarter.
<h3>Outlook</h3>
The company&#39;s projected adjusted EPS for the third quarter is in the range of $2.10-$2.20. For the full year, the company expects adjusted EPS in the range of $8.15-$8.30. These projections consider various factors such as current global economic activity, uneven global industrial production, reduced global automotive production, stabilizing demand in Europe, sustained growth in Mexico and India and low single-digit growth in China.
<h3>Price Performance</h3>
Shares of PPG have lost 12.1% over the past year compared with 12.8% decline of its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/70/71889.jpg?v=1979758973" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; Upcoming Releases</h3>
PPG currently carries a Zacks Rank #4 (Sell).
Some other firms in the basic materials space that are set to release earnings soon are The Scotts Miracle-Gro Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smg#NYSE">SMG</a>), Ero Copper Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ero#NYSE">ERO</a>) and Innospec Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iosp#NASDAQ">IOSP</a>).
Scotts Miracle-Gro is slated to report fiscal third-quarter results on Jul 31. The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.94 per share. SMG beat the Zacks Consensus Estimate in three of the last four quarters, with the average earnings surprise being 1.44%. SMG carries a Zacks Rank #3 (Hold).
Ero Copper is slated to report second-quarter results on Aug 1, after market close. The Zacks Consensus Estimate for ERO&#39;s second-quarter earnings is pegged at 27 cents. ERO currently carries a Zacks Rank #1.
Innospec is slated to report second-quarter results on Aug 6, after market close. The consensus estimate for Innospec&#39;s second-quarter earnings is pegged at $1.37 per share. IOSP, carrying a Zacks Rank #3, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 8.22%. The company&#39;s shares have gained around 24.5% in the past year.
<a href="https://www.zacks.com/stock/news/2305079/ppg-industries-ppg-q2-earnings-top-estimates-sales-lag?cid=CS-BENZ-FT-analyst_blog|earnings_article-2305079">To read this article on Zacks.com click here.</a>

IOSP

PPG Industries Q2 Earnings Top Estimates, Sales Lag

WIIM

PPG shares are trading lower after the company cut its FY24 outlook.

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) to report quarterly earnings at $3.26 per share on revenue of $16.59 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. American Express shares gained 0.1% to $249.50 in after-hours trading.</li>
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game">posted better-than-expected earnings</a> and sales results for its second quarter. The company ended the second quarter with 277.65 million paid members, adding 8.05 million paid members in the quarter. Netflix shares fell 0.1% to $642.70 in the after-hours trading session.</li>
<li>Analysts expect Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) to post quarterly earnings at 83 cents per share on revenue of $9.08 billion. The company will release earnings before the markets open. SLB shares rose 1% to $49.19 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>PPG Industries Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) <a href="https://www.benzinga.com/news/earnings/24/07/39849701/ppg-industries-stock-falls-on-q2-earnings-the-details">reported</a> mixed second-quarter financial results and cut its guidance. The company reported second-quarter revenue of $4.794 billion, missing analyst estimates of $4.924 billion. The company reported adjusted earnings of $2.50 per share, beating analyst estimates of $2.48 per share. PPG shares fell 2.9% to $127.90 in the after-hours trading session.</li>
<li>Analysts expect Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) to post quarterly earnings at 80 cents per share on revenue of $5.95 billion before the opening bell. Halliburton shares rose 0.2% to $36.50 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39837510/top-3-tech-stocks-you-may-want-to-dump-this-quarter">Top 3 Tech Stocks You May Want To Dump This Quarter</a></li>
</ul>
Photo courtesy: Netflix

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