Wall Street brokerages forecast that Platform Specialty Products Corp (NYSE:PAH) will post earnings of $0.07 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Platform Specialty Products’ earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.10. Platform Specialty Products reported earnings of $0.17 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 58.8%. The firm is expected to report its next earnings results on Thursday, November 1st.

On average, analysts expect that Platform Specialty Products will report full-year earnings of $0.57 per share for the current year. For the next year, analysts anticipate that the company will post earnings of $0.77 per share, with EPS estimates ranging from $0.76 to $0.77. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Platform Specialty Products.

Platform Specialty Products (NYSE:PAH) last announced its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. Platform Specialty Products had a positive return on equity of 9.15% and a negative net margin of 4.08%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.27 million. During the same period last year, the business posted $0.20 EPS. The business’s revenue was up 6.5% compared to the same quarter last year.

A number of research analysts have recently issued reports on PAH shares. Zacks Investment Research upgraded Platform Specialty Products from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, July 3rd. Nomura cut their price target on Platform Specialty Products from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, October 15th. Citigroup downgraded Platform Specialty Products from a “buy” rating to a “neutral” rating and lifted their price target for the company from $13.00 to $14.00 in a report on Wednesday, September 19th. Finally, ValuEngine downgraded Platform Specialty Products from a “sell” rating to a “strong sell” rating in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.50.

In other Platform Specialty Products news, Director Martin E. Franklin bought 260,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average cost of $12.01 per share, for a total transaction of $3,122,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pershing Square Capital Manage bought 9,968,304 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were acquired at an average price of $12.10 per share, for a total transaction of $120,616,478.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 10,281,137 shares of company stock worth $124,380,356. 5.40% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its stake in Platform Specialty Products by 2.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 227,261 shares of the specialty chemicals company’s stock worth $2,636,000 after buying an additional 4,850 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Platform Specialty Products by 33.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 26,400 shares of the specialty chemicals company’s stock worth $305,000 after acquiring an additional 6,570 shares during the period. IndexIQ Advisors LLC lifted its position in Platform Specialty Products by 15.8% during the 2nd quarter. IndexIQ Advisors LLC now owns 53,348 shares of the specialty chemicals company’s stock worth $619,000 after acquiring an additional 7,298 shares during the period. NEXT Financial Group Inc acquired a new stake in Platform Specialty Products during the 3rd quarter worth about $115,000. Finally, InterOcean Capital LLC acquired a new stake in Platform Specialty Products during the 2nd quarter worth about $121,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Shares of NYSE:PAH traded down $0.04 on Thursday, reaching $10.89. The company had a trading volume of 3,060,300 shares, compared to its average volume of 3,241,595. Platform Specialty Products has a 52-week low of $9.09 and a 52-week high of $13.54. The company has a market capitalization of $3.19 billion, a PE ratio of 14.29, a P/E/G ratio of 1.61 and a beta of 3.18. The company has a current ratio of 2.11, a quick ratio of 1.62 and a debt-to-equity ratio of 2.07.

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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