PPG's 3Q Earnings Warning Sends Shares Lower; Maintaining $103 FVE
After the Oct. 8 market close, PPG provided an earnings warning for its third quarter, calling out significant raw material cost inflation and somewhat weaker-than-expecteddemand in certain segments. The company expects adjusted earnings per share of $1.41-$1.45 for the quarter, or about 6%-9% below Street consensus before the announcement. Although this suggests a longer path to margin recovery, we had already expected a gradual period of margin recovery for PPG. We've left our $103 fair value...
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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