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PPG Industries Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for net income of $2.37 per share, a rise of 11.8% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from $2.30. Between one and three months ago, the average estimate moved up. It has been unchanged at $2.37 during the last month. Analysts are projecting profit to rise by 17.4% versus last year to $7.97.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 2 cents, reporting profit of $1.81 per share against a mean estimate of net income of $1.79 per share.
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A Look Back: In the first quarter, profit fell 94.3% to $13 million (8 cents a share) from $228 million ($1.40 a share) the year earlier, but exceeded analyst expectations. Revenue rose 6.2% to $3.75 billion from $3.53 billion.
Stock Price Performance: Between April 18, 2012 and July 13, 2012, the stock price rose $4.87 (4.9%), from $98.47 to $103.34. The stock price saw one of its best stretches over the last year between April 13, 2012 and April 20, 2012, when shares rose for six straight days, increasing 5.8% (+$5.57) over that span. It saw one of its worst periods between May 7, 2012 and May 18, 2012 when shares fell for 10 straight days, dropping 8.7% (-$9.34) over that span.
Wall St. Revenue Expectations: On average, analysts predict $4.16 billion in revenue this quarter, a rise of 4.3% from the year-ago quarter. Analysts are forecasting total revenue of $15.66 billion for the year, a rise of 5.2% from last year’s revenue of $14.88 billion.
After last quarter’s profit drop broke a string of income increases, this earnings announcement is definitely a chance for a rebound. Net income rose 25% in the second quarter of the last fiscal year, 18.7% in the third quarter of the last fiscal year and 5.4% in the fourth quarter of the last fiscal year before declining in the first quarter.
On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 15.3% in the second quarter of the last fiscal year, 11.2% in the third quarter of the last fiscal year and 4.1% in the fourth quarter of the last fiscal year before increasing again in the first quarter.
Analyst Ratings: With nine analysts rating the stock a buy, none rating it a sell and six rating the stock a hold, there are indications of a bullish stance by analysts. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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