PQ Group Holdings Inc (PQG) to Post Q1 2019 Earnings of $0.15 Per Share, Jefferies Financial Group Forecasts

PQ Group Holdings Inc (NYSE:PQG) – Stock analysts at Jefferies Financial Group lowered their Q1 2019 earnings per share estimates for shares of PQ Group in a research note issued to investors on Tuesday, November 13th. Jefferies Financial Group analyst L. Alexander now forecasts that the company will post earnings of $0.15 per share for the quarter, down from their prior forecast of $0.20. Jefferies Financial Group also issued estimates for PQ Group’s Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.25 EPS, FY2019 earnings at $1.10 EPS and FY2020 earnings at $1.30 EPS.

PQ Group (NYSE:PQG) last released its earnings results on Tuesday, November 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.01. PQ Group had a net margin of 6.00% and a return on equity of 6.96%. The business had revenue of $427.20 million for the quarter, compared to analysts’ expectations of $413.13 million. During the same period last year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the stock. Nomura raised their target price on shares of PQ Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research raised shares of PQ Group from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. JPMorgan Chase & Co. cut shares of PQ Group from an “overweight” rating to a “neutral” rating in a research report on Friday, August 10th. Credit Suisse Group raised their target price on shares of PQ Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Finally, BMO Capital Markets raised their target price on shares of PQ Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. PQ Group currently has a consensus rating of “Buy” and an average target price of $20.29.

PQG opened at $15.17 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.35 and a current ratio of 2.38. PQ Group has a 1 year low of $12.88 and a 1 year high of $18.69. The company has a market capitalization of $2.05 billion, a P/E ratio of 32.98 and a beta of 1.04.

In related news, insider Paul Ferrall sold 53,323 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $17.87, for a total value of $952,882.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 86,959 shares of company stock worth $1,553,715 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC acquired a new position in PQ Group during the second quarter valued at approximately $197,000. Alliancebernstein L.P. acquired a new position in PQ Group during the third quarter valued at approximately $222,000. Point72 Asset Management L.P. acquired a new position in PQ Group during the second quarter valued at approximately $329,000. Rhumbline Advisers lifted its position in PQ Group by 47.9% during the second quarter. Rhumbline Advisers now owns 37,794 shares of the company’s stock valued at $680,000 after buying an additional 12,239 shares in the last quarter. Finally, Swiss National Bank acquired a new position in PQ Group during the second quarter valued at approximately $1,273,000. 69.28% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for PQ Group (NYSE:PQG)

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