Huntsman Corporation Expected to Post FY2017 Earnings of $2.70 Per Share (HUN)
Huntsman Corporation (NYSE:HUN) – Investment analysts at KeyCorp boosted their FY2017 earnings per share (EPS) estimates for Huntsman in a report released on Sunday. KeyCorp analyst M. Sison now anticipates that the basic materials company will post earnings per share of $2.70 for the year, up from their prior forecast of $2.60. KeyCorp currently has a “Buy” rating and a $34.00 target price on the stock. KeyCorp also issued estimates for Huntsman’s Q4 2017 earnings at $0.61 EPS.
Huntsman (NYSE:HUN) last released its quarterly earnings data on Friday, October 27th. The basic materials company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.17. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. Huntsman had a return on equity of 30.64% and a net margin of 5.37%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share.
Several other research firms also recently commented on HUN. Goldman Sachs Group reiterated a “hold” rating and issued a $36.00 price objective on shares of Huntsman in a report on Monday, December 4th. J P Morgan Chase & Co initiated coverage on Huntsman in a report on Wednesday. They set an “overweight” rating and a $36.00 price target on the stock. UBS boosted their price target on Huntsman from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 30th. Nomura boosted their price target on Huntsman to $40.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Alembic Global Advisors restated a “buy” rating on shares of Huntsman in a report on Monday, November 6th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $33.00.
Huntsman (HUN) opened at $31.79 on Tuesday. The company has a market capitalization of $7,613.06, a PE ratio of 13.27, a PEG ratio of 1.46 and a beta of 2.85. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 1.10. Huntsman has a twelve month low of $18.93 and a twelve month high of $32.59.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.50 annualized dividend and a yield of 1.57%. Huntsman’s payout ratio is 23.47%.
In other news, major shareholder Corp Huntsman sold 21,764,800 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $21.66, for a total value of $471,425,568.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anthony P. Hankins sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $31.88, for a total value of $2,550,400.00. Following the completion of the sale, the chief executive officer now directly owns 442,615 shares in the company, valued at $14,110,566.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,061,783 shares of company stock worth $512,316,794. Insiders own 19.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Assetmark Inc. boosted its position in shares of Huntsman by 1,658.4% in the 3rd quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 3,748 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in shares of Huntsman in the 2nd quarter worth approximately $106,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Huntsman in the 2nd quarter worth approximately $109,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Huntsman by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 24 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Huntsman by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 610 shares in the last quarter. 75.47% of the stock is currently owned by hedge funds and other institutional investors.
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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