PPG Industries (NYSE:) has launched a combined paint and primer product – PPG Timeless. This new product comes with PPG Industries’ industry-leading coatings innovation and expertise. The paint is widely available at The Home Depot (NYSE:) locations across the United States and at homedepot.com for interior and exterior use.
PPG Timeless paint provides pros and residential painters with excellent protection and premium product features through do-it-yourselfers (DIYers). The product uses the automotive-grade ultraviolet (UV) and gloss-retention technology trusted by leading automotive makers.
Additionally, the paint provides outstanding washability, scrubbability and stain resistance for the home interior, exterior UV-Protect Technology that prevents the exterior from color fading. The product is also known for providing protection for the surface through a tough exterior finish that provides exceptional resistance to chipping, flaking and cracking while resisting mold, mildew and algae along with unique exterior high-build formula that helps hide minor surface imperfections.
This paint is ideal for interior use in kitchens, bathrooms, living rooms, family rooms, dining rooms, bedrooms and high-traffic areas like hallways along with a variety of exterior surfaces, including wood, concrete, masonry, fiber cement, stucco, brick, siding, windows, doors and trim.
PPG Industries has underperformed the
industry over the last six months. The company’s shares have moved up around 1.3% over this period, compared with roughly 4.7% gain recorded by the industry.
PPG Industries reported adjusted earnings of $1.83 per share for the second quarter of 2017, up 5.8% from the year-ago earnings of $1.73. The result beat the Zacks Consensus Estimate of $1.81. Net sales in the quarter edged up 1% year over year to $3,806 million. Sales missed the Zacks Consensus Estimate of $3,898.6 million.
PPG Industries expects modest overall global economic growth. Also, the company anticipates a higher level of earnings-accretive cash deployment in the second half of 2017 including acquisitions and share repurchases. The company announced that it will resume share repurchases from the third quarter.
PPG Industries is taking steps for growing organically as well as cutting costs. The company also remains committed to deploy cash on acquisitions and share repurchases. It plans to deploy $2.5 billion to $3.5 billion of cash on acquisitions and share repurchases in 2017 and 2018 combined and is now targeting the top end of that range at a minimum.
PPG Industries faces currency headwind and macroeconomic challenges. Some of its end-markets including marine still remain sluggish. It is also exposed to volatility in raw materials and energy costs.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. Price and Consensus | PPG Industries, Inc. Quote
PPG Industries currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked companies in the chemical space include Arkema S.A. (OTC:) , Akzo Nobel N.V. (OTC:) and Kronos Worldwide (NYSE:) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arkema has an expected long-term earnings growth of 12.8%.
Akzo Nobel has an expected long-term earnings growth of 11.1%.
Kronos Worldwide has an expected long-term earnings growth of 5%.
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