$140.00 Million in Sales Expected for PQ Group Holdings Inc. (NYSE:PQG) This Quarter

Equities research analysts expect PQ Group Holdings Inc. (NYSE:PQG) to announce $140.00 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for PQ Group’s earnings. The lowest sales estimate is $137.00 million and the highest is $143.00 million. PQ Group reported sales of $359.50 million in the same quarter last year, which would suggest a negative year over year growth rate of 61.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, July 29th.

According to Zacks, analysts expect that PQ Group will report full year sales of $563.20 million for the current fiscal year, with estimates ranging from $560.02 million to $569.00 million. For the next financial year, analysts anticipate that the business will post sales of $609.63 million, with estimates ranging from $600.25 million to $626.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for PQ Group.

PQ Group (NYSE:PQG) last announced its earnings results on Thursday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter. PQ Group had a positive return on equity of 9.67% and a negative net margin of 17.03%. The company had revenue of $126.60 million for the quarter. During the same period last year, the firm earned $0.05 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis.

A number of brokerages have recently weighed in on PQG. KeyCorp lifted their price target on PQ Group from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, March 15th. Zacks Investment Research upgraded PQ Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 12th. Credit Suisse Group reiterated an “outperform” rating and set a $19.00 price target on shares of PQ Group in a report on Monday, March 15th. CL King lifted their price target on PQ Group from $19.00 to $20.50 and gave the company a “buy” rating in a report on Monday, May 17th. Finally, Morgan Stanley boosted their target price on PQ Group from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $17.92.

In other PQ Group news, major shareholder Ccmp Capital, Lp sold 8,164,010 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $13.44, for a total value of $109,724,294.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kyle D. Vann purchased 10,000 shares of PQ Group stock in a transaction on Thursday, April 29th. The stock was bought at an average cost of $14.01 per share, with a total value of $140,100.00. Following the transaction, the director now directly owns 121,543 shares of the company’s stock, valued at $1,702,817.43. The disclosure for this purchase can be found here. 3.23% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PQG. First Trust Advisors LP lifted its position in shares of PQ Group by 17.9% during the 1st quarter. First Trust Advisors LP now owns 193,269 shares of the company’s stock worth $2,932,000 after purchasing an additional 29,290 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of PQ Group by 200.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,100 shares of the company’s stock worth $244,000 after purchasing an additional 11,400 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of PQ Group during the 4th quarter worth about $290,000. Victory Capital Management Inc. lifted its position in shares of PQ Group by 14.7% during the 4th quarter. Victory Capital Management Inc. now owns 23,946 shares of the company’s stock worth $341,000 after purchasing an additional 3,061 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of PQ Group during the 4th quarter worth about $142,000. 69.97% of the stock is owned by institutional investors and hedge funds.

Shares of PQG stock traded up $0.05 on Tuesday, reaching $15.74. 4,008 shares of the company’s stock traded hands, compared to its average volume of 332,570. PQ Group has a 12-month low of $9.78 and a 12-month high of $18.90. The company has a quick ratio of 1.66, a current ratio of 1.92 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $2.16 billion, a P/E ratio of -10.98 and a beta of 0.86. The company has a 50 day moving average of $15.88.

About PQ Group

PQ Group Holdings Inc provides specialty catalysts, chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through three segments: Refining Services, Catalysts, and Performance Chemicals. The Refining Services segment offers sulfuric acid recycling and end-to-end logistics services to produce alkylate; and virgin sulfuric acid for water treatment, mining, and industrial applications.

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