Dividend Aristocrat PPG Industries (NYSE:PPG) lost $-2.52 (-1.94%) and closed at $127.41 yesterday after missing Q4 earnings expectations and warning of uncertain conditions for 2020.
Below the PPG-Industries price chart for the last month and last year.
PPG reported fourth-quarter net sales of nearly $3.7 billion, approximately 1% higher than the prior-year and up about 2% in constant currencies. PPG also reported Q4 earnings per share from continuing operations of $1.31 which is up 14%, but missing analysts expected $1.34 per share.
PPG issued downside guidance for Q1, seeing EPS of $1.32-$1.42, below $1.53 analyst consensus estimate due to weaker market conditions. CEO Michael McGarry said he expects this weak industrial demand to continue into 2020.
For FY 2020, PPG forecasts EPS rising 4%-9% (Y/Y) to $6.47-$6.78, which below the consensus of $6.87. Expected revenues are in the range of $15.15B-$15.55B vs. $15.59 consensus.
PPG also declared a quarterly dividend of 51 cents per share. Current dividend yield 1.56%.
See also our in focus article on PPG.