We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PPG Industries (PPG) Sells Eberle Design to Vance Street Capital
Read MoreHide Full Article
PPG Industries, Inc. (PPG - Free Report) recently closed the divestiture of Eberle Design, Inc. (“EDI”) to Vance Street Capital. EDI is a leading producer of electronic control system components for managing traffic safety and detecting vehicles at intersections parking and access, rail and emergency vehicle applications.
The company has around 150 employees and operates from a single location in Phoenix, AZ. Vance Street will include EDI into its Intelligent Transportation Systems platform, consisting of Polara Enterprises and Carmanah Technologies.
PPG purchased EDI in Dec 2020, along with the Ennis-Flint business. Ennis-Flint, which remains the core of PPG’s Traffic Solutions business unit, is not affected by the sale of EDI.
Shares of the company have declined 35.8% in the past year compared with a 15.5% fall of the industry.
Image Source: Zacks Investment Research
In its last earnings call, the company stated that it sees overall underlying demand for its products to remain strong, including sustained recovery in certain end-use markets. It also expects further volume growth in automotive refinish and aerospace coatings businesses in the coming quarters.
PPG Industries projects earnings per share (EPS) between $1.44 and $1.74 for second-quarter 2022. Adjusted EPS is expected in the range of $1.60-$1.90, excluding amortization expenses of 14 cents and costs related to earlier approved and communicated business restructuring of 2 cents.
The company expects aggregate net sales volumes to be down a low-to-mid-single-digit percentage on a year-over-year basis in the second quarter.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Cabot Corporation (CBT - Free Report) and Nutrien Ltd. (NTR - Free Report) .
Allegheny has a projected earnings growth rate of 1,030.8% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 40% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 3.8% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 22.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 6% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 7.7% over a year.
Nutrien has a projected earnings growth rate of 174.6% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 30.7% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 35.4% in a year. The company flaunts a Zacks Rank #1.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
PPG Industries (PPG) Sells Eberle Design to Vance Street Capital
PPG Industries, Inc. (PPG - Free Report) recently closed the divestiture of Eberle Design, Inc. (“EDI”) to Vance Street Capital. EDI is a leading producer of electronic control system components for managing traffic safety and detecting vehicles at intersections parking and access, rail and emergency vehicle applications.
The company has around 150 employees and operates from a single location in Phoenix, AZ. Vance Street will include EDI into its Intelligent Transportation Systems platform, consisting of Polara Enterprises and Carmanah Technologies.
PPG purchased EDI in Dec 2020, along with the Ennis-Flint business. Ennis-Flint, which remains the core of PPG’s Traffic Solutions business unit, is not affected by the sale of EDI.
Shares of the company have declined 35.8% in the past year compared with a 15.5% fall of the industry.
Image Source: Zacks Investment Research
In its last earnings call, the company stated that it sees overall underlying demand for its products to remain strong, including sustained recovery in certain end-use markets. It also expects further volume growth in automotive refinish and aerospace coatings businesses in the coming quarters.
PPG Industries projects earnings per share (EPS) between $1.44 and $1.74 for second-quarter 2022. Adjusted EPS is expected in the range of $1.60-$1.90, excluding amortization expenses of 14 cents and costs related to earlier approved and communicated business restructuring of 2 cents.
The company expects aggregate net sales volumes to be down a low-to-mid-single-digit percentage on a year-over-year basis in the second quarter.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Cabot Corporation (CBT - Free Report) and Nutrien Ltd. (NTR - Free Report) .
Allegheny has a projected earnings growth rate of 1,030.8% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 40% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 3.8% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 22.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 6% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 7.7% over a year.
Nutrien has a projected earnings growth rate of 174.6% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 30.7% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 35.4% in a year. The company flaunts a Zacks Rank #1.