PPG Industries Issues Third-Quarter 2016 Profit Warning; Maintaining Fair Value Estimate
We are maintaining our $94 per share fair value estimate for PPG following the company's profit warning for the third quarter of 2016. The company expects third quarter adjusted earnings per share to be in the range of $1.54 to $1.57, compared with $1.54 in the same quarter last year. While this is lower than the roughly $1.70 per share range of consensus estimates, we had already forecast a below-consensus earnings estimate for the full year. With the roughly 9% decline in share prices Oct. 7 t...PPG Industries manufactures and distributes a range of paints, coatings and specialty materials. The company's business is comprised of two reportable business segments: Performance Coatings, which primarily supplies a variety of protective and decorative coatings, sealants and finishes along with paint strippers, stains and related chemicals, as well as transparencies and transparent armor; and Industrial Coatings, which primarily supplies a variety of protective and decorative coatings and finishes along with adhesives, sealants, metal pretreatment products, optical monomers and coatings, precipitated silicas and other specialty materials.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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