FY2018 Earnings Estimate for Platform Specialty Products Corp (PAH) Issued By SunTrust Banks
Platform Specialty Products Corp (NYSE:PAH) – SunTrust Banks upped their FY2018 EPS estimates for Platform Specialty Products in a report released on Wednesday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $0.98 per share for the year, up from their prior forecast of $0.95. SunTrust Banks currently has a “Buy” rating and a $15.00 target price on the stock.
A number of other equities research analysts have also issued reports on PAH. Zacks Investment Research raised shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Barclays dropped their target price on shares of Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. ValuEngine lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Credit Suisse Group began coverage on shares of Platform Specialty Products in a report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $13.50.
Platform Specialty Products (PAH) traded down $0.28 during trading on Monday, hitting $11.14. 3,227,178 shares of the stock were exchanged, compared to its average volume of 4,664,445. Platform Specialty Products has a fifty-two week low of $9.11 and a fifty-two week high of $14.82. The stock has a market capitalization of $3,280.00, a price-to-earnings ratio of -23.21, a price-to-earnings-growth ratio of 0.84 and a beta of 3.07. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.05 and a quick ratio of 1.55.
Platform Specialty Products (NYSE:PAH) last posted 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). The company had revenue of $904.30 million for the quarter, compared to analyst estimates of $912.19 million. Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share.
In other news, insider Diego Lopez Casanello acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was purchased 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 owns 15,000 shares of the company’s stock, valued at approximately $148,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin E. Franklin acquired 164,467 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was 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 purchased 669,467 shares of company stock valued at $6,453,139 in the last three months. 5.20% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Platform Specialty Products by 12.7% in the second quarter. FMR LLC now owns 22,055,440 shares of the specialty chemicals company’s stock valued at $279,663,000 after purchasing an additional 2,483,623 shares during the period. Vanguard Group Inc. boosted its stake in Platform Specialty Products by 4.6% during the second quarter. Vanguard Group Inc. now owns 16,082,464 shares of the specialty chemicals company’s stock worth $203,926,000 after buying an additional 711,500 shares during the period. Glenview Capital Management LLC boosted its stake in Platform Specialty Products by 17.9% during the second quarter. Glenview Capital Management LLC now owns 13,203,633 shares of the specialty chemicals company’s stock worth $167,422,000 after buying an additional 2,000,000 shares during the period. Capital World Investors boosted its stake in Platform Specialty Products by 13.1% during the second quarter. Capital World Investors now owns 12,080,829 shares of the specialty chemicals company’s stock worth $153,185,000 after buying an additional 1,398,319 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Platform Specialty Products by 19.1% during the third quarter. Dimensional Fund Advisors LP now owns 6,558,502 shares of the specialty chemicals company’s stock worth $73,127,000 after buying an additional 1,052,378 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.
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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.
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