Wall Street brokerages expect that Platform Specialty Products Co. (NYSE:PAH) will announce $899.25 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Platform Specialty Products’ earnings, with the highest sales estimate coming in at $902.00 million and the lowest estimate coming in at $896.50 million. Platform Specialty Products posted sales of $861.80 million in the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The firm is scheduled to announce its next earnings report on Monday, May 14th.
On average, analysts expect that Platform Specialty Products will report full year sales of $3.94 billion for the current financial year, with estimates ranging from $3.91 billion to $3.96 billion. For the next fiscal year, analysts expect that the firm will report sales of $4.07 billion per share, with estimates ranging from $4.04 billion to $4.11 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Platform Specialty Products.
Platform Specialty Products (NYSE:PAH) last released its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Platform Specialty Products had a negative net margin of 7.84% and a positive return on equity of 7.69%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $978.56 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year.
Several research firms have recently issued reports on PAH. Zacks Investment Research raised shares of Platform Specialty Products from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, March 7th. ValuEngine downgraded shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.14.
Shares of Platform Specialty Products stock traded up $0.25 during trading hours on Friday, hitting $10.30. The company’s stock had a trading volume of 2,364,655 shares, compared to its average volume of 3,568,001. Platform Specialty Products has a 1-year low of $9.09 and a 1-year high of $14.82. The firm has a market capitalization of $2,880.29, a P/E ratio of 13.55, a PEG ratio of 0.73 and a beta of 3.15. The company has a quick ratio of 1.69, a current ratio of 2.14 and a debt-to-equity ratio of 1.90.
Several hedge funds have recently made changes to their positions in PAH. Oppenheimer Asset Management Inc. purchased a new position in shares of Platform Specialty Products in the third quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Platform Specialty Products by 69.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,365 shares of the specialty chemicals company’s stock valued at $113,000 after purchasing an additional 4,662 shares during the period. Kazazian Asset Management LLC purchased a new position in shares of Platform Specialty Products in the fourth quarter valued at $130,000. Investors Research Corp purchased a new position in shares of Platform Specialty Products in the fourth quarter valued at $134,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Platform Specialty Products in the fourth quarter valued at $145,000. Institutional investors and hedge funds own 92.62% of the company’s stock.
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About Platform Specialty Products
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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