Analysts expect Platform Specialty Products Corp (NYSE:PAH) to report $0.07 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Platform Specialty Products’ earnings. The lowest EPS estimate is $0.04 and the highest is $0.10. Platform Specialty Products posted earnings per share of $0.17 in the same quarter last year, which would indicate a negative year-over-year growth rate of 58.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Platform Specialty Products will report full-year earnings of $0.57 per share for the current fiscal year. For the next financial year, analysts anticipate that the company will report earnings of $0.77 per share, with EPS estimates ranging from $0.76 to $0.77. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Platform Specialty Products.
Platform Specialty Products (NYSE:PAH) last released its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.27 million. Platform Specialty Products had a negative net margin of 4.08% and a positive return on equity of 9.15%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS.
PAH has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. ValuEngine cut shares of Platform Specialty Products from a “sell” rating to a “strong sell” rating in a research report on Friday, July 20th. Goldman Sachs Group cut shares of Platform Specialty Products from a “buy” rating to a “neutral” rating in a research report on Monday, July 23rd. Finally, Morgan Stanley set a $12.00 price target on shares of Platform Specialty Products and gave the company a “hold” rating in a research report on Thursday, June 7th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Platform Specialty Products currently has a consensus rating of “Hold” and an average target price of $13.20.
In other Platform Specialty Products news, Director Pershing Square Capital Manage purchased 9,968,304 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was purchased at an average cost of $12.10 per share, for a total transaction of $120,616,478.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John David Tolbert purchased 16,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was acquired at an average price of $12.13 per share, with a total value of $194,080.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 10,281,137 shares of company stock valued at $124,380,356. Corporate insiders own 5.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PAH. LPL Financial LLC acquired a new position in Platform Specialty Products in the 1st quarter valued at approximately $108,000. Neuberger Berman Group LLC bought a new stake in shares of Platform Specialty Products in the 1st quarter valued at $113,000. InterOcean Capital LLC bought a new stake in shares of Platform Specialty Products in the 2nd quarter valued at $121,000. First National Bank of Omaha bought a new stake in shares of Platform Specialty Products in the 2nd quarter valued at $139,000. Finally, Brown Advisory Inc. bought a new stake in shares of Platform Specialty Products in the 1st quarter valued at $155,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.
PAH stock opened at $12.75 on Friday. The company has a market cap of $3.72 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.87 and a beta of 3.17. Platform Specialty Products has a 1 year low of $9.09 and a 1 year high of $13.54. The company has a quick ratio of 1.62, a current ratio of 2.11 and a debt-to-equity ratio of 2.07.
Platform Specialty Products Company Profile
Platform Specialty Products Corporation produces and sells specialty chemical products worldwide. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers.
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