Zacks: Analysts Expect Platform Specialty Products Corp (PAH) Will Post Earnings of $0.24 Per Share

Analysts expect Platform Specialty Products Corp (NYSE:PAH) to post earnings of $0.24 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Platform Specialty Products’ earnings, with estimates ranging from $0.22 to $0.24. Platform Specialty Products posted earnings of $0.20 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 20%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that Platform Specialty Products will report full year earnings of $0.77 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.78. For the next financial year, analysts anticipate that the company will post earnings of $0.98 per share, with EPS estimates ranging from $0.94 to $1.04. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Platform Specialty Products.

Platform Specialty Products (NYSE:PAH) last issued its earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. The company had revenue of $904.30 million during the quarter, compared to analysts’ expectations of $912.19 million. During the same quarter in the previous year, the company earned $0.14 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year.

A number of equities analysts have issued reports on PAH shares. SunTrust Banks upgraded Platform Specialty Products from a “hold” rating to a “buy” rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Monday, September 18th. Barclays lowered their price target on 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. Zacks Investment Research upgraded Platform Specialty Products from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. ValuEngine downgraded Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Credit Suisse Group started coverage on Platform Specialty Products in a research report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.50.

In other news, insider Diego Lopez Casanello bought 4,000 shares of Platform Specialty Products stock in a transaction on Tuesday, December 19th. The stock was acquired at an average price of $9.91 per share, with a total value of $39,640.00. Following the completion of the acquisition, the insider now directly owns 15,000 shares of the company’s stock, valued at $148,650. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin E. Franklin bought 164,467 shares of Platform Specialty Products stock in a transaction on Thursday, December 14th. The shares were purchased at an average cost of $9.57 per share, with a total value of $1,573,949.19. The disclosure for this purchase can be found here. Insiders have acquired 669,467 shares of company stock worth $6,453,139 in the last quarter. 5.20% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new position in shares of Platform Specialty Products during the third quarter valued at approximately $111,000. Quantbot Technologies LP acquired a new stake in shares of Platform Specialty Products in the second quarter valued at approximately $129,000. JPMorgan Chase & Co. increased its holdings in shares of Platform Specialty Products by 167.5% in the second quarter. JPMorgan Chase & Co. now owns 15,217 shares of the specialty chemicals company’s stock valued at $193,000 after purchasing an additional 9,528 shares during the last quarter. Petrus Trust Company LTA acquired a new stake in shares of Platform Specialty Products in the second quarter valued at approximately $222,000. Finally, Virtu KCG Holdings LLC increased its holdings in shares of Platform Specialty Products by 81.4% in the second quarter. Virtu KCG Holdings LLC now owns 32,341 shares of the specialty chemicals company’s stock valued at $410,000 after purchasing an additional 14,509 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Shares of Platform Specialty Products (NYSE PAH) traded down $0.24 on Tuesday, hitting $11.42. The stock had a trading volume of 5,576,626 shares, compared to its average volume of 4,722,011. Platform Specialty Products has a 1 year low of $9.11 and a 1 year high of $14.82. The company has a quick ratio of 1.55, a current ratio of 2.05 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $3,350.00, a P/E ratio of -23.79, a price-to-earnings-growth ratio of 0.84 and a beta of 3.07.

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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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Earnings History and Estimates for Platform Specialty Products (NYSE:PAH)

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