Platform Specialty Products Corp (NYSE:PAH) – Equities researchers at SunTrust Banks cut their FY2017 EPS estimates for Platform Specialty Products in a research note issued to investors on Wednesday. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings of $0.78 per share for the year, down from their prior forecast of $0.79. SunTrust Banks has a “Buy” rating and a $15.00 price objective on the stock. SunTrust Banks also issued estimates for Platform Specialty Products’ Q4 2017 earnings at $0.24 EPS and FY2019 earnings at $1.09 EPS.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. ValuEngine lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Credit Suisse Group assumed coverage on shares of Platform Specialty Products in a research report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 price objective on the stock. Finally, Barclays cut their price objective on shares of Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Platform Specialty Products presently has an average rating of “Hold” and a consensus price target of $13.50.
Platform Specialty Products (NYSE:PAH) opened at $11.66 on Friday. The firm has a market cap of $3,298.75, a P/E ratio of -22.00, a P/E/G ratio of 0.84 and a beta of 3.19. The company has a current ratio of 2.05, a quick ratio of 1.55 and a debt-to-equity ratio of 1.77. Platform Specialty Products has a 52-week low of $9.11 and a 52-week high of $14.82.
Platform Specialty Products (NYSE:PAH) last posted its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $904.30 million during the quarter, compared to analysts’ expectations of $912.19 million. Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. Platform Specialty Products’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share.
Several large investors have recently added to or reduced their stakes in PAH. FMR LLC raised its position in shares of Platform Specialty Products by 12.7% in the second quarter. FMR LLC now owns 22,055,440 shares of the specialty chemicals company’s stock valued at $279,663,000 after purchasing an additional 2,483,623 shares during the period. Janus Henderson Group PLC bought a new position in shares of Platform Specialty Products in the second quarter valued at approximately $31,220,000. Glenview Capital Management LLC raised its position in shares of Platform Specialty Products by 17.9% in the second quarter. Glenview Capital Management LLC now owns 13,203,633 shares of the specialty chemicals company’s stock valued at $167,422,000 after purchasing an additional 2,000,000 shares during the period. Capital World Investors raised its position in shares of Platform Specialty Products by 13.1% in the second quarter. Capital World Investors now owns 12,080,829 shares of the specialty chemicals company’s stock valued at $153,185,000 after purchasing an additional 1,398,319 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Platform Specialty Products by 19.1% in the third quarter. Dimensional Fund Advisors LP now owns 6,558,502 shares of the specialty chemicals company’s stock valued at $73,127,000 after purchasing an additional 1,052,378 shares during the period. 93.53% of the stock is currently owned by institutional investors.
In other news, insider Diego Lopez Casanello purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were bought at an average price of $9.91 per share, with a total value of $39,640.00. Following the completion of the transaction, the insider now directly owns 15,000 shares in the company, valued at approximately $148,650. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin E. Franklin purchased 164,467 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was purchased at an average cost of $9.57 per share, for a total transaction of $1,573,949.19. The disclosure for this purchase can be found here. In the last three months, insiders bought 669,467 shares of company stock worth $6,453,139. Insiders own 5.20% of the company’s stock.
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Platform Specialty Products Company Profile
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, the Asia-Pacific, and Europe. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers plating products that are used to plate holes; electroless nickel products, which are applied to various metal and plastic surfaces; electronic assembly materials for use in the electronic market and residential boiler systems; final finishes that are used on printed circuit boards; circuit formation products for surface preparation; oxides, which are used in the fabrication of multilayer circuit boards; semiconductor materials and packaging products; and pre-treatment and cleaning solutions.
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