Huntsman Corporation (NYSE:HUN) to Issue $0.09 Quarterly Dividend

Huntsman Corporation (NYSE:HUN) declared a quarterly dividend on Thursday, November 6th. Shareholders of record on Monday, December 15th will be given a dividend of 0.0875 per share by the basic materials company on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, December 15th.

Huntsman has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Huntsman has a payout ratio of 384.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Huntsman to earn $0.81 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 123.5%.

Huntsman Stock Up 8.0%

Shares of HUN stock traded up $0.60 on Friday, hitting $8.02. The stock had a trading volume of 4,427,012 shares, compared to its average volume of 4,190,779. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.43 and a quick ratio of 0.85. The business has a 50 day moving average of $9.36 and a 200 day moving average of $10.58. Huntsman has a 12-month low of $7.30 and a 12-month high of $20.94. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -4.13 and a beta of 0.68.

Huntsman (NYSE:HUN) last posted its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.10. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. As a group, analysts expect that Huntsman will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

HUN has been the topic of a number of research analyst reports. Citigroup cut their price target on shares of Huntsman from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, October 2nd. Wells Fargo & Company lowered their price objective on shares of Huntsman from $13.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 5th. UBS Group reduced their target price on shares of Huntsman from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Jefferies Financial Group lowered their price target on shares of Huntsman from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Finally, Royal Bank Of Canada reduced their price objective on Huntsman from $12.00 to $10.00 and set a “sector perform” rating for the company in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $10.91.

Huntsman Company Profile

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products.