PQ Group (NYSE:PQG) announced its quarterly earnings results on Tuesday. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01, MarketWatch Earnings reports. The firm had revenue of $427.20 million for the quarter, compared to the consensus estimate of $413.13 million. PQ Group had a net margin of 5.00% and a return on equity of 5.97%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. PQ Group updated its FY 2018 guidance to EPS.
Shares of NYSE PQG traded down $0.30 during trading on Tuesday, reaching $15.52. 2,782 shares of the company traded hands, compared to its average volume of 133,023. The company has a quick ratio of 1.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.34. The company has a market cap of $2.21 billion, a PE ratio of 34.11 and a beta of 1.04. PQ Group has a 52-week low of $12.88 and a 52-week high of $18.69.
A number of analysts have recently issued reports on PQG shares. Nomura raised their price target on shares of PQ Group from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, August 10th. Citigroup raised their price target on shares of PQ Group from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Zacks Investment Research raised shares of PQ Group from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. downgraded shares of PQ Group from an “overweight” rating to a “neutral” rating in a report on Friday, August 10th. Finally, Credit Suisse Group raised their price target on shares of PQ Group from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $20.43.
In other news, insider Paul Ferrall sold 4,739 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $17.92, for a total transaction of $84,922.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 86,959 shares of company stock worth $1,553,715. Insiders own 3.30% of the company’s stock.
Several large investors have recently modified their holdings of PQG. BlackRock Inc. lifted its stake in shares of PQ Group by 22.7% in the 2nd quarter. BlackRock Inc. now owns 2,248,017 shares of the company’s stock worth $40,463,000 after purchasing an additional 415,248 shares during the period. Laurion Capital Management LP bought a new position in shares of PQ Group in the 2nd quarter worth approximately $2,684,000. Dimensional Fund Advisors LP bought a new position in shares of PQ Group in the 2nd quarter worth approximately $2,528,000. Northern Trust Corp lifted its stake in shares of PQ Group by 39.2% in the 2nd quarter. Northern Trust Corp now owns 428,051 shares of the company’s stock worth $7,705,000 after purchasing an additional 120,474 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of PQ Group by 6.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,783,015 shares of the company’s stock worth $31,149,000 after purchasing an additional 109,294 shares during the period. Hedge funds and other institutional investors own 69.26% of the company’s stock.
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About PQ Group
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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