Brokerages Expect Platform Specialty Products Corp (PAH) Will Post Quarterly Sales of $502.00 Million

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Analysts expect Platform Specialty Products Corp (NYSE:PAH) to post sales of $502.00 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Platform Specialty Products’ earnings. The lowest sales estimate is $500.00 million and the highest is $504.00 million. Platform Specialty Products posted sales of $904.30 million in the same quarter last year, which suggests a negative year-over-year growth rate of 44.5%. The firm is expected to issue its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Platform Specialty Products will report full year sales of $2.50 billion for the current year, with estimates ranging from $2.01 billion to $2.99 billion. For the next financial year, analysts expect that the company will post sales of $2.08 billion per share, with estimates ranging from $2.04 billion to $2.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Platform Specialty Products.

Platform Specialty Products (NYSE:PAH) last released its quarterly earnings results 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. Platform Specialty Products had a negative net margin of 4.08% and a positive return on equity of 9.15%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.27 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Platform Specialty Products’s revenue was up 6.5% on a year-over-year basis.

A number of research firms recently issued reports on PAH. Zacks Investment Research downgraded shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. ValuEngine raised shares of Platform Specialty Products from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 24th. Goldman Sachs Group downgraded shares of Platform Specialty Products from a “buy” rating to a “neutral” rating in a research note on Monday, July 23rd. Finally, Morgan Stanley set a $12.00 price target on shares of Platform Specialty Products and gave the stock a “hold” rating in a research note on Thursday, June 7th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $13.20.

In other Platform Specialty Products news, insider John David Tolbert acquired 16,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were acquired at an average price of $12.13 per share, for a total transaction of $194,080.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scot Benson acquired 6,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was acquired at an average price of $12.56 per share, for a total transaction of $75,360.00. Following the acquisition, the insider now owns 85,456 shares of the company’s stock, valued at approximately $1,073,327.36. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 10,281,137 shares of company stock worth $124,380,356. Corporate insiders own 5.40% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC purchased a new stake in shares of Platform Specialty Products during the first quarter valued at approximately $108,000. Neuberger Berman Group LLC purchased a new stake in shares of Platform Specialty Products during the first quarter valued at approximately $113,000. InterOcean Capital LLC purchased a new stake in shares of Platform Specialty Products during the second quarter valued at approximately $121,000. First National Bank of Omaha purchased a new stake in shares of Platform Specialty Products during the second quarter valued at approximately $139,000. Finally, Brown Advisory Inc. purchased a new stake in shares of Platform Specialty Products during the first quarter valued at approximately $155,000. Institutional investors and hedge funds own 95.31% of the company’s stock.

PAH stock traded up $0.10 during trading on Friday, reaching $12.85. The company had a trading volume of 3,096,609 shares, compared to its average volume of 2,800,566. Platform Specialty Products has a 52 week low of $9.09 and a 52 week high of $13.54. The company has a market cap of $3.70 billion, a P/E ratio of 14.75, a PEG ratio of 1.86 and a beta of 3.17. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.11 and a quick ratio of 1.62.

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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