Platform Specialty Products Corp (PAH) Expected to Announce Quarterly Sales of $836 Million

Platform Specialty Products Corp (PAH) Expected to Announce Quarterly Sales of $836 Million

Equities analysts expect that Platform Specialty Products Corp (NYSE:PAH) will post sales of $836 million for the current quarter, according to Zacks. Two analysts have issued estimates for Platform Specialty Products Corp’s earnings. The highest sales estimate is $853 million and the lowest is $819 million. Platform Specialty Products Corp posted sales of $824 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.5%. The firm is expected to report its next earnings report before the market opens on Monday, May 8th.

According to Zacks, analysts expect that Platform Specialty Products Corp will report full year sales of $836 million for the current year, with estimates ranging from $3.63 billion to $3.72 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.8 billion per share, with estimates ranging from $3.77 billion to $3.82 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Platform Specialty Products Corp.

Platform Specialty Products Corp (NYSE:PAH) last announced its quarterly earnings data on Tuesday, February 28th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $950 million for the quarter, compared to the consensus estimate of $931.10 million. Platform Specialty Products Corp had a negative net margin of 5.98% and a negative return on equity of 0.53%. The business’s revenue was up 29.3% compared to the same quarter last year.

A number of brokerages recently commented on PAH. HC Wainwright began coverage on shares of Platform Specialty Products Corp in a research report on Saturday, January 21st. They set a “buy” rating and a $5.00 price objective on the stock. Instinet boosted their price objective on shares of Platform Specialty Products Corp from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Roth Capital set a $15.00 price objective on shares of Platform Specialty Products Corp and gave the company a “buy” rating in a research report on Tuesday, February 28th. Zacks Investment Research raised shares of Platform Specialty Products Corp from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Thursday, March 2nd. Finally, TheStreet raised shares of Platform Specialty Products Corp from a “d+” rating to a “c” rating in a research report on Tuesday, February 28th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $12.10.

Hedge funds have recently bought and sold shares of the stock. Capital World Investors boosted its stake in Platform Specialty Products Corp by 22.7% in the third quarter. Capital World Investors now owns 14,177,021 shares of the specialty chemicals company’s stock worth $114,976,000 after buying an additional 2,627,021 shares during the period. Glenview Capital Management LLC acquired a new stake in Platform Specialty Products Corp during the fourth quarter worth about $135,840,000. Elliott Management Corp acquired a new stake in Platform Specialty Products Corp during the fourth quarter worth about $107,432,000. FMR LLC boosted its stake in Platform Specialty Products Corp by 197.0% in the fourth quarter. FMR LLC now owns 10,129,833 shares of the specialty chemicals company’s stock worth $99,374,000 after buying an additional 6,719,133 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Platform Specialty Products Corp by 3.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,968,693 shares of the specialty chemicals company’s stock worth $32,186,000 after buying an additional 128,566 shares during the period. Hedge funds and other institutional investors own 91.27% of the company’s stock.

Shares of Platform Specialty Products Corp (NYSE:PAH) traded up 2.16% during trading on Wednesday, hitting $13.69. 2,825,345 shares of the company traded hands. The firm has a 50 day moving average price of $13.24 and a 200-day moving average price of $11.18. The stock’s market cap is $3.89 billion. Platform Specialty Products Corp has a one year low of $6.85 and a one year high of $14.37.

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