$PPG Industries: The Overbought Stock That Defies Expectations #trendmyfriend
PPG Industries: Here's How the overbought stock is Beating the Odds
As the industry leader in paints and coatings, PPG Industries PPG 0.00%↑ stock is soaring.
Paints, coatings, and specialty materials are all supplied by PPG Industries on a worldwide scale. The company serves to a variety of sectors, including packaging, consumer goods, construction, aerospace, and automotive.
PG offers Architectural coatings, car coatings, industrial coatings, protective and marine coatings in its portfolio. The business also manufactures optical goods, sealants, and specialized materials.
PPG has created a variety of environmentally friendly products, such as coatings that lower energy consumption and improve energy efficiency, goods produced from renewable raw materials, and coatings that protect the environment. PPG Industries employs over 47,000 people worldwide and has business in more than 70 nations.
PPG Industries' Q1 Earnings Expected to Exceed Guidance
Earnings for PPG Industries' Q1 are anticipated to exceed guidance and market consensus, portending significant future growth for the paints and coatings sector.
PPG Industries has stated that it anticipates first-quarter earnings to surpass previous guidance and forecasts. This anticipation caused shares to rise by about 5% on Monday during premarket hours.
The adjusted profits per diluted share for the first quarter are expected to range between $1.52 and $1.58, exceeding the previously provided guidance of $1.10 to $1.20 and average projections of $1.19.
PPG Industries' CEO Announces Higher-Than-Expected Q1 Earnings - Is This the Time to Invest?
Tim Knavish, president and chief executive officer of PPG, said that the aerospace and automotive original equipment manufacturer coatings businesses were driving the improved sales volume performance. In the majority of its business portfolio, including Europe, the corporation produced higher year-over-year earnings. PPG Industries also stated that despite pandemic-related disruptions, sales volumes in China were better than anticipated. This is encouraging news for the company as China is a crucial market for the sector.
Tim Knavish, president and chief executive officer of PPG Industries, declared: "We are delighted to inform that our forecast Q1 results are expected to exceed past guidance and market estimates. The key to this accomplishment is our excellent sales volume performance in the automotive and aerospace sectors, as well as better year-over-year earnings throughout the majority of our business portfolio. As we endeavor to keep our position as a leader in the paints and coatings business, we will continue to put an emphasis on innovation and sustainability.
For investors interested in the paints and coatings sector, PPG Industries' forecast of higher-than-expected Q1 earnings is encouraging. Due to the company's emphasis on innovation and sustainability, it is well-positioned to enjoy success going forward. Investors will have better understanding of PPG Industries' performance and prospects with the release of the full-year 2023 guidance and actual earnings report, which are scheduled to be made public in a few weeks.
$PPG Industries : Chart Overview
The stock has just recently made a new 52 week high post. The chart looks strong buy despite it being in overbought zone as this is the overbought opportunity we have been waiting for. The donchain channels suggest the stock has made a new 50 days high and has clearly broken all its resistance and a continues to deliver a buy signal for the stock on technical grounds. Lets have a fundamental valuation outlook here :
$PPG Industries - Valuation : Overview
** In USD Millions. Estimated based on calculations by Equisights
As seen above , we believe $PPG is undervalued and the risk-reward is highly favorable for the stock as it trades at $140 now. We have tried applying the EV/Sales of PPG to determine its terminal value and in turn derive at the stocks intrinsic valuation and have found it to be undervalued with significant upside at the disposal. To know the actionable trade idea;