Zacks: Brokerages Expect Platform Specialty Products Corp (PAH) to Announce $0.07 EPS

Equities research analysts predict that Platform Specialty Products Corp (NYSE:PAH) will report earnings of $0.07 per share for the current fiscal 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 reported earnings of $0.17 per share in the same quarter last year, which would indicate a negative year over year growth rate of 58.8%. The firm is expected to issue its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Platform Specialty Products will report full-year earnings of $0.57 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $0.77 per share, with EPS estimates ranging from $0.76 to $0.77. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Platform Specialty Products.

Platform Specialty Products (NYSE:PAH) last announced its earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. Platform Specialty Products had a positive return on equity of 9.15% and a negative net margin of 4.08%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $997.27 million. During the same period in the prior year, the company posted $0.20 EPS. Platform Specialty Products’s quarterly revenue was up 6.5% on a year-over-year basis.

A number of equities research analysts have recently weighed in on PAH shares. Zacks Investment Research upgraded Platform Specialty Products from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, July 3rd. ValuEngine upgraded Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Citigroup downgraded Platform Specialty Products from a “buy” rating to a “neutral” rating and boosted their price target for the company from $13.00 to $14.00 in a report on Wednesday, September 19th. Finally, Goldman Sachs Group downgraded Platform Specialty Products from a “buy” rating to a “neutral” rating in a report on Monday, July 23rd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $13.33.

In related news, Director Pershing Square Capital Manage acquired 9,968,304 shares of the stock in a transaction that occurred 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Scot Benson acquired 6,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were bought at an average price of $12.56 per share, with a total value of $75,360.00. Following the completion of the purchase, the insider now owns 85,456 shares in the company, valued at $1,073,327.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 10,281,137 shares of company stock valued at $124,380,356. 5.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System grew its stake in Platform Specialty Products by 2.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 227,261 shares of the specialty chemicals company’s stock worth $2,636,000 after buying an additional 4,850 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Platform Specialty Products by 33.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 26,400 shares of the specialty chemicals company’s stock worth $305,000 after buying an additional 6,570 shares during the last quarter. IndexIQ Advisors LLC grew its stake in Platform Specialty Products by 15.8% during the 2nd quarter. IndexIQ Advisors LLC now owns 53,348 shares of the specialty chemicals company’s stock worth $619,000 after buying an additional 7,298 shares during the last quarter. Swiss National Bank grew its stake in Platform Specialty Products by 2.2% during the 1st quarter. Swiss National Bank now owns 399,289 shares of the specialty chemicals company’s stock worth $3,845,000 after buying an additional 8,600 shares during the last quarter. Finally, InterOcean Capital LLC acquired a new position in Platform Specialty Products during the 2nd quarter worth $121,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.

Shares of NYSE PAH traded down $0.10 during trading on Monday, reaching $12.13. The stock had a trading volume of 2,745,400 shares, compared to its average volume of 3,280,976. Platform Specialty Products has a one year low of $9.09 and a one year high of $13.54. The company has a current ratio of 2.11, a quick ratio of 1.62 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.81 and a beta of 3.18.

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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