PPG Industries Inc. PPG has completed the beforehand appear accretion of Industria Chimica Reggiana (ICR) S.p.A. The banking agreement of the transaction accept not been appear by the company.
ICR is an Italy-based acrylic and blanket architect for automotive refinish and ablaze automated coatings industries. The aggregation sells articles in added than 70 countries beyond the United States, Latin America, Europe, Africa and the Middle East.
The automotive refinish articles bogus by the aggregation accommodate putties, primers, bright coats and basecoats beneath the Sprint brand. Additionally, it produces a abounding ambit of enamels, coatings and primers for ablaze bartering cartage applications.
PPG Industries apprehend the buyout to accompaniment its accepted artefact offerings for the automotive refinish and ablaze automated coatings industries.
Shares of PPG Industries accept acquired 14.2% in the accomplished year adjoin the industry’s 29.6% decline.
In January, PPG Industries appear adapted balance per allotment (EPS) of $1.31 for fourth-quarter 2019, which rose about 14% year over year. However, the amount absent the Zacks Consensus Estimate of $1.35.
Net sales inched up 0.7% year over year to $3,672 actor and exhausted the Zacks Consensus Estimate of $3,662.2 million.
PPG Industries expects amoebic advance to abide in the Performance Coatings assemblage in 2020. For the Automated Coatings unit, the aggregation expects a backlash in aggregate advance in second-half 2020.
While the aggregation is alpha to attestant a bashful accretion in automated appeal in China, it expects bendable accepted automated appeal to abide in the United States and Europe.
For 2020, the aggregation projects adapted EPS advance amid 4% and 9%, which excludes the appulse of bill translation. First-quarter 2020 EPS from continuing operations are projected in the ambit of $1.32-$1.42.
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
Few better-ranked stocks in the basal abstracts amplitude are Daqo New Energy Corp DQ, Royal Gold, Inc RGLD and Impala Platinum Holdings Limited IMPUY, anniversary currently antic a Zacks Rank #1 (Strong Buy). You can see the complete account of today’s Zacks #1 Rank stocks here.
Daqo New Energy has projected balance advance amount of 326.3% for 2020. The company’s shares accept rallied 30.5% in the accomplished year.
Royal Gold has an estimated balance advance amount of 83.5% for budgetary 2020. Its shares accept alternate 30.3% in the accomplished year.
Impala Platinum has an accepted balance advance amount of 465.5% for budgetary 2020. The company’s shares accept surged 206.3% in the accomplished year.
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PPG Industries, Inc. (PPG): Chargeless Stock Analysis Address
DAQO New Energy Corp. (DQ): Chargeless Stock Analysis Address
Royal Gold, Inc. (RGLD): Chargeless Stock Analysis Address
Impala Platinum Holdings Ltd. (IMPUY): Chargeless Stock Analysis Address
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