Analysts Anticipate Platform Specialty Products Corporation (PAH) Will Announce Quarterly Sales of $927.80 Million

Equities analysts predict that Platform Specialty Products Corporation (NYSE:PAH) will announce sales of $927.80 million for the current quarter, Zacks reports. Two analysts have issued estimates for Platform Specialty Products Corporation’s earnings, with estimates ranging from $922.60 million to $933.00 million. Platform Specialty Products Corporation reported sales of $891.00 million during the same quarter last year, which indicates a positive year over year growth rate of 4.1%. The company is scheduled to report its next earnings results on Friday, November 3rd.

On average, analysts expect that Platform Specialty Products Corporation will report full year sales of $927.80 million for the current financial year, with estimates ranging from $3.71 billion to $3.73 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.86 billion per share, with estimates ranging from $3.85 billion to $3.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Platform Specialty Products Corporation.

Platform Specialty Products Corporation (NYSE:PAH) last announced its quarterly earnings data on Wednesday, August 9th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $941.10 million during the quarter, compared to analysts’ expectations of $933.32 million. Platform Specialty Products Corporation had a positive return on equity of 7.15% and a negative net margin of 0.26%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS.

PAH has been the subject of a number of analyst reports. Zacks Investment Research raised Platform Specialty Products Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. UBS AG reissued a “buy” rating and issued a $17.00 price target (up previously from $16.00) on shares of Platform Specialty Products Corporation in a report on Thursday, August 10th. Instinet reduced their price target on Platform Specialty Products Corporation to $14.00 and set a “buy” rating for the company in a report on Tuesday, June 13th. BidaskClub downgraded Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, ValuEngine raised Platform Specialty Products Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $13.10.

In other news, CEO Rakesh Sachdev bought 11,000 shares of Platform Specialty Products Corporation stock in a transaction on Friday, August 25th. The shares were bought at an average price of $11.06 per share, with a total value of $121,660.00. Following the acquisition, the chief executive officer now directly owns 11,000 shares in the company, valued at approximately $121,660. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken bought 45,000 shares of Platform Specialty Products Corporation stock in a transaction on Tuesday, August 29th. The shares were purchased at an average cost of $10.98 per share, for a total transaction of $494,100.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 60,500 shares of company stock worth $664,865. 6.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its holdings in Platform Specialty Products Corporation by 2.8% during the 1st quarter. ProShare Advisors LLC now owns 16,403 shares of the specialty chemicals company’s stock worth $214,000 after buying an additional 448 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Platform Specialty Products Corporation by 1.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 43,242 shares of the specialty chemicals company’s stock worth $548,000 after buying an additional 779 shares during the last quarter. Amalgamated Bank lifted its holdings in Platform Specialty Products Corporation by 2.9% during the 1st quarter. Amalgamated Bank now owns 27,979 shares of the specialty chemicals company’s stock worth $364,000 after buying an additional 787 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Platform Specialty Products Corporation by 1.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 83,932 shares of the specialty chemicals company’s stock worth $1,093,000 after buying an additional 1,197 shares during the last quarter. Finally, Global Endowment Management LP lifted its holdings in Platform Specialty Products Corporation by 7.6% during the 2nd quarter. Global Endowment Management LP now owns 41,300 shares of the specialty chemicals company’s stock worth $524,000 after buying an additional 2,900 shares during the last quarter. 93.71% of the stock is currently owned by institutional investors.

Platform Specialty Products Corporation (NYSE PAH) opened at 11.80 on Tuesday. The stock’s market cap is $3.38 billion. The stock has a 50 day moving average price of $12.64 and a 200 day moving average price of $12.92. Platform Specialty Products Corporation has a 52 week low of $6.85 and a 52 week high of $14.82.

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About Platform Specialty Products Corporation

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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