Platform Specialty Products Co. (PAH) Expected to Post Quarterly Sales of $984.35 Million

Equities analysts predict that Platform Specialty Products Co. (NYSE:PAH) will post sales of $984.35 million for the current quarter, according to Zacks. Two analysts have made estimates for Platform Specialty Products’ earnings, with the highest sales estimate coming in at $985.00 million and the lowest estimate coming in at $983.70 million. Platform Specialty Products posted sales of $941.10 million in the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The firm is expected to issue its next earnings report on Wednesday, August 8th.

On average, analysts expect that Platform Specialty Products will report full year sales of $3.99 billion for the current financial year, with estimates ranging from $3.96 billion to $4.01 billion. For the next year, analysts anticipate that the firm will post sales of $4.14 billion per share, with estimates ranging from $4.09 billion to $4.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Platform Specialty Products.

Platform Specialty Products (NYSE:PAH) last announced its earnings results on Thursday, May 3rd. The specialty chemicals company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. Platform Specialty Products had a negative net margin of 6.05% and a positive return on equity of 8.25%. The business had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $906.10 million. During the same period in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis.

A number of analysts have commented on the stock. ValuEngine cut shares of Platform Specialty Products from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $13.83.

Shares of PAH stock opened at $11.25 on Friday. Platform Specialty Products has a 12 month low of $11.05 and a 12 month high of $11.18. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 0.80 and a beta of 3.14. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.57.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $113,000 after purchasing an additional 4,662 shares in the last quarter. Swiss National Bank increased its stake in shares of Platform Specialty Products by 2.0% in the fourth quarter. Swiss National Bank now owns 390,689 shares of the specialty chemicals company’s stock worth $3,876,000 after purchasing an additional 7,800 shares in the last quarter. Lapides Asset Management LLC increased its stake in shares of Platform Specialty Products by 2.6% in the fourth quarter. Lapides Asset Management LLC now owns 324,700 shares of the specialty chemicals company’s stock worth $3,221,000 after purchasing an additional 8,100 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Platform Specialty Products by 6.3% in the fourth quarter. Gabelli Funds LLC now owns 185,000 shares of the specialty chemicals company’s stock worth $1,835,000 after purchasing an additional 11,000 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Platform Specialty Products in the first quarter worth $108,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

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

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