FY2018 Earnings Estimate for PQ Group Holdings Inc Issued By Jefferies Financial Group (PQG)
PQ Group Holdings Inc (NYSE:PQG) – Investment analysts at Jefferies Financial Group upped their FY2018 earnings per share (EPS) estimates for shares of PQ Group in a report issued on Tuesday, November 6th. Jefferies Financial Group analyst L. Alexander now expects that the company will post earnings of $1.00 per share for the year, up from their prior estimate of $0.90. Jefferies Financial Group also issued estimates for PQ Group’s Q4 2018 earnings at $0.30 EPS.
A number of other analysts have also recently commented on PQG. Zacks Investment Research raised shares of PQ Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Nomura upped their target price on shares of PQ Group from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, August 10th. BMO Capital Markets upped their target price on shares of PQ Group from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Credit Suisse Group upped their target price on shares of PQ Group from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Finally, KeyCorp reduced their target price on shares of PQ Group from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PQ Group presently has an average rating of “Buy” and a consensus price target of $20.29.
PQ Group (NYSE:PQG) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. PQ Group had a net margin of 6.00% and a return on equity of 6.98%. The firm had revenue of $427.20 million during the quarter, compared to analysts’ expectations of $413.13 million. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of PQ Group by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 5,595,705 shares of the company’s stock worth $97,758,000 after purchasing an additional 414,930 shares in the last quarter. Boston Partners increased its stake in shares of PQ Group by 2.3% in the second quarter. Boston Partners now owns 3,035,193 shares of the company’s stock worth $54,634,000 after purchasing an additional 67,320 shares in the last quarter. BlackRock Inc. increased its stake in shares of PQ Group by 8.4% in the third quarter. BlackRock Inc. now owns 2,436,560 shares of the company’s stock worth $42,567,000 after purchasing an additional 188,543 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of PQ Group by 6.5% in the third quarter. Wells Fargo & Company MN now owns 1,783,015 shares of the company’s stock worth $31,149,000 after purchasing an additional 109,294 shares in the last quarter. Finally, Emerald Advisers Inc. PA increased its stake in shares of PQ Group by 1.6% in the second quarter. Emerald Advisers Inc. PA now owns 1,228,203 shares of the company’s stock worth $22,108,000 after purchasing an additional 19,685 shares in the last quarter. 69.26% of the stock is owned by hedge funds and other institutional investors.
In other PQ Group news, insider Paul Ferrall sold 4,305 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $17.93, for a total transaction of $77,188.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 86,959 shares of company stock valued at $1,553,715. 3.30% of the stock is owned by corporate insiders.
PQ Group Company Profile
PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.
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