FY2018 EPS Estimates for Huntsman Corporation Lifted by KeyCorp (HUN)
Huntsman Corporation (NYSE:HUN) – Analysts at KeyCorp increased their FY2018 EPS estimates for Huntsman in a research note issued to investors on Sunday. KeyCorp analyst M. Sison now anticipates that the basic materials company will post earnings of $2.35 per share for the year, up from their prior forecast of $2.00. KeyCorp currently has a “Buy” rating and a $34.00 target price on the stock.
Other equities analysts have also issued reports about the stock. Instinet restated a “buy” rating and issued a $34.00 price objective (up from $30.00) on shares of Huntsman in a report on Wednesday, September 20th. SunTrust Banks restated a “buy” rating and issued a $32.00 price objective on shares of Huntsman in a report on Friday, October 27th. They noted that the move was a valuation call. Wells Fargo & Company upgraded shares of Huntsman from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $32.00 in a report on Thursday, September 28th. UBS upped their price objective on shares of Huntsman from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, September 19th. Finally, J P Morgan Chase & Co assumed coverage on shares of Huntsman in a report on Wednesday. They issued an “overweight” rating and a $36.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Huntsman has an average rating of “Buy” and a consensus price target of $33.00.
Shares of Huntsman (HUN) traded up $0.76 during mid-day trading on Wednesday, hitting $31.70. 3,123,288 shares of the stock traded hands, compared to its average volume of 3,674,057. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.52 and a current ratio of 1.87. Huntsman has a 52-week low of $18.93 and a 52-week high of $32.59. The firm has a market cap of $7,629.86, a price-to-earnings ratio of 13.30, a P/E/G ratio of 1.46 and a beta of 2.85.
Huntsman (NYSE:HUN) last issued its quarterly earnings data on Friday, October 27th. The basic materials company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.50 by $0.17. Huntsman had a net margin of 5.37% and a return on equity of 30.64%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new stake in shares of Huntsman in the 3rd quarter valued at approximately $828,000. Algert Global LLC purchased a new stake in shares of Huntsman in the 3rd quarter valued at approximately $2,480,000. California Public Employees Retirement System increased its position in shares of Huntsman by 6.2% in the 3rd quarter. California Public Employees Retirement System now owns 581,447 shares of the basic materials company’s stock valued at $15,943,000 after purchasing an additional 33,947 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Huntsman in the 3rd quarter valued at approximately $642,000. Finally, Point72 Asset Management L.P. increased its position in shares of Huntsman by 243.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,824,233 shares of the basic materials company’s stock valued at $77,440,000 after purchasing an additional 2,001,233 shares during the last quarter. 75.47% of the stock is currently owned by institutional investors.
In other Huntsman news, major shareholder Corp Huntsman sold 21,764,800 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $21.66, for a total value of $471,425,568.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP J Kimo Esplin sold 240,793 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $30.99, for a total transaction of $7,462,175.07. Following the completion of the sale, the vice president now directly owns 528,889 shares in the company, valued at $16,390,270.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,061,783 shares of company stock worth $512,316,794. 19.00% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.58%. Huntsman’s dividend payout ratio (DPR) is presently 23.47%.
Huntsman Company Profile
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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