Platform Specialty Products Corp (PAH) Expected to Post Earnings of $0.24 Per Share

Brokerages expect Platform Specialty Products Corp (NYSE:PAH) to report earnings per share (EPS) of $0.24 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Platform Specialty Products’ earnings, with estimates ranging from $0.22 to $0.24. Platform Specialty Products posted earnings per share of $0.20 during the same quarter last year, which suggests a positive year over year growth rate of 20%. The business is scheduled to announce its next quarterly earnings report on Tuesday, February 27th.

On average, analysts expect that Platform Specialty Products will report full year earnings of $0.77 per share for the current year, with EPS estimates ranging from $0.75 to $0.78. For the next year, analysts forecast that the company will report earnings of $0.98 per share, with EPS estimates ranging from $0.94 to $1.04. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Platform Specialty Products.

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

A number of equities research analysts have weighed in on PAH shares. Barclays reduced their price objective on Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. Zacks Investment Research cut Platform Specialty Products from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. ValuEngine cut Platform Specialty Products from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Credit Suisse Group started coverage on Platform Specialty Products in a research note on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, SunTrust Banks reiterated a “buy” rating and issued a $15.00 price objective on shares of Platform Specialty Products in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.75.

In related news, Director Martin E. Franklin purchased 164,467 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was acquired at an average price of $9.57 per share, for a total transaction of $1,573,949.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin E. Franklin purchased 500,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were bought at an average price of $9.66 per share, with a total value of $4,830,000.00. The disclosure for this purchase can be found here. Insiders have bought 669,467 shares of company stock valued at $6,453,139 in the last 90 days. Company insiders own 5.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in shares of Platform Specialty Products by 2.9% during the second quarter. Alliancebernstein L.P. now owns 111,450 shares of the specialty chemicals company’s stock worth $1,413,000 after purchasing an additional 3,145 shares during the last quarter. California State Teachers Retirement System grew its holdings in Platform Specialty Products by 0.8% during the second quarter. California State Teachers Retirement System now owns 402,094 shares of the specialty chemicals company’s stock worth $5,099,000 after acquiring an additional 3,312 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Platform Specialty Products by 69.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,365 shares of the specialty chemicals company’s stock worth $113,000 after acquiring an additional 4,662 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Platform Specialty Products by 0.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 834,065 shares of the specialty chemicals company’s stock worth $9,300,000 after acquiring an additional 5,621 shares during the period. Finally, Nationwide Fund Advisors grew its holdings in Platform Specialty Products by 15.2% during the second quarter. Nationwide Fund Advisors now owns 43,467 shares of the specialty chemicals company’s stock worth $551,000 after acquiring an additional 5,720 shares during the period. Institutional investors and hedge funds own 91.54% of the company’s stock.

Shares of Platform Specialty Products (PAH) traded down $0.25 during midday trading on Friday, reaching $10.75. The company’s stock had a trading volume of 6,008,130 shares, compared to its average volume of 4,273,032. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.55 and a current ratio of 2.05. Platform Specialty Products has a one year low of $9.11 and a one year high of $14.82. The stock has a market capitalization of $3,160.00, a PE ratio of -22.40, a P/E/G ratio of 0.85 and a beta of 3.10.

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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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