Platform Specialty Products Corp (PAH) Expected to Post Quarterly Sales of $982.55 Million
Brokerages expect that Platform Specialty Products Corp (NYSE:PAH) will report sales of $982.55 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Platform Specialty Products’ earnings, with the highest sales estimate coming in at $988.00 million and the lowest estimate coming in at $977.10 million. Platform Specialty Products reported sales of $950.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 27th.
On average, analysts expect that Platform Specialty Products will report full-year sales of $982.55 million for the current year, with estimates ranging from $3.68 billion to $3.70 billion. For the next fiscal year, analysts expect that the company will report sales of $3.85 billion per share, with estimates ranging from $3.84 billion to $3.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Platform Specialty Products.
Several equities research analysts have commented on PAH shares. SunTrust Banks reiterated a “buy” rating and issued a $15.00 price target on shares of Platform Specialty Products in a research report on Friday, November 3rd. Credit Suisse Group started coverage on shares of Platform Specialty Products in a research report on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 price target on the stock. ValuEngine cut shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Platform Specialty Products has a consensus rating of “Hold” and a consensus target price of $14.71.
In related news, insider Diego Lopez Casanello acquired 4,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were purchased at an average price of $9.91 per share, for a total transaction of $39,640.00. Following the acquisition, the insider now owns 15,000 shares in the company, valued at $148,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin E. Franklin acquired 164,467 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were bought at an average price of $9.57 per share, for a total transaction of $1,573,949.19. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 669,467 shares of company stock worth $6,453,139. 5.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. J. Goldman & Co LP acquired a new stake in Platform Specialty Products during the 4th quarter worth about $3,697,000. Kazazian Asset Management LLC acquired a new stake in Platform Specialty Products during the 4th quarter worth about $130,000. Crestline Management LP acquired a new stake in Platform Specialty Products during the 4th quarter worth about $1,308,000. Meadow Creek Investment Management LLC raised its holdings in Platform Specialty Products by 52.4% during the 4th quarter. Meadow Creek Investment Management LLC now owns 42,500 shares of the specialty chemicals company’s stock worth $422,000 after buying an additional 14,620 shares during the period. Finally, Ardsley Advisory Partners raised its holdings in Platform Specialty Products by 107.1% during the 4th quarter. Ardsley Advisory Partners now owns 1,025,000 shares of the specialty chemicals company’s stock worth $10,158,000 after buying an additional 530,000 shares during the period. Hedge funds and other institutional investors own 89.18% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Platform Specialty Products Corp (PAH) Expected to Post Quarterly Sales of $982.55 Million” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://www.thecerbatgem.com/2018/02/21/platform-specialty-products-corp-pah-expected-to-post-quarterly-sales-of-982-55-million.html.
About Platform Specialty Products
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Platform Specialty Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Platform Specialty Products and related companies with MarketBeat.com's FREE daily email newsletter.