Shares of Platform Specialty Products Corporation have rallied 22.4% in the past three months compared with the industry’s rise of roughly 1.7%.
The company has a market cap of roughly $3.3 billion and average volume of shares traded in the last three months was around 3,141.8K. It has an expected long-term earnings per share growth rate of 14.1%.
Driving Factors
Forecast-topping earnings performance, upbeat outlook and solid growth prospects are contributing to the rally in Platform Specialty’s shares.
The company logged a profit of $37.3 million or 13 cents per share in the first quarter of 2018 against a loss of $24.4 million or 9 cents recorded a year ago. Adjusted earnings of 21 cents per share surpassed the Zacks Consensus Estimate of 19 cents.
Platform Specialty remains optimistic about the rest of 2018 and expects healthy end-markets in Performance Solutions segment and improving end-markets in Agricultural Solutions. Moreover, the company has reiterated its adjusted EBITDA guidance in the range of $870-$900 million for 2018.
Platform Specialty is witnessing increased demand particularly in two of the company’s biggest markets — Brazil and Mexico — in Latin America owing to favorable crop prices. In Brazil, the selective herbicide market remains a strength for the company. The company is also optimistic about the current demand environment and expects the momentum to continue through the second half of 2018.
The company also remains focused on growing through strategic acquisitions. It recently acquired Etec Crop Solutions, a crop protection business in New Zealand, which will add to its diversified base and existing portfolio. With this deal, Platform Specialty will be able to strengthen its position and serve its customers with a wide range of products in the region.
Zacks Rank & Stocks to Consider
Platform Specialty currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are The Chemours Company (CC - Free Report) , Westlake Chemical Corporation (WLK - Free Report) and United States Steel Corporation (X - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have gained 10.1% in a year.
Westlake Chemical has an expected long-term earnings growth rate of 12.2%. Its shares have rallied 63.1% in a year.
U.S. Steel has an expected long-term earnings growth rate of 8%. Its shares have moved up 63.1% in a year.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Shares of Platform Specialty Products Corporation have rallied 22.4% in the past three months compared with the industry’s rise of roughly 1.7%.
The company has a market cap of roughly $3.3 billion and average volume of shares traded in the last three months was around 3,141.8K. It has an expected long-term earnings per share growth rate of 14.1%.
Driving Factors
Forecast-topping earnings performance, upbeat outlook and solid growth prospects are contributing to the rally in Platform Specialty’s shares.
The company logged a profit of $37.3 million or 13 cents per share in the first quarter of 2018 against a loss of $24.4 million or 9 cents recorded a year ago. Adjusted earnings of 21 cents per share surpassed the Zacks Consensus Estimate of 19 cents.
Platform Specialty remains optimistic about the rest of 2018 and expects healthy end-markets in Performance Solutions segment and improving end-markets in Agricultural Solutions. Moreover, the company has reiterated its adjusted EBITDA guidance in the range of $870-$900 million for 2018.
Platform Specialty is witnessing increased demand particularly in two of the company’s biggest markets — Brazil and Mexico — in Latin America owing to favorable crop prices. In Brazil, the selective herbicide market remains a strength for the company. The company is also optimistic about the current demand environment and expects the momentum to continue through the second half of 2018.
The company also remains focused on growing through strategic acquisitions. It recently acquired Etec Crop Solutions, a crop protection business in New Zealand, which will add to its diversified base and existing portfolio. With this deal, Platform Specialty will be able to strengthen its position and serve its customers with a wide range of products in the region.
Zacks Rank & Stocks to Consider
Platform Specialty currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are The Chemours Company (CC - Free Report) , Westlake Chemical Corporation (WLK - Free Report) and United States Steel Corporation (X - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have gained 10.1% in a year.
Westlake Chemical has an expected long-term earnings growth rate of 12.2%. Its shares have rallied 63.1% in a year.
U.S. Steel has an expected long-term earnings growth rate of 8%. Its shares have moved up 63.1% in a year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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