SunTrust Banks Weighs in on Huntsman Co.’s FY2017 Earnings (HUN)
Huntsman Co. (NYSE:HUN) – Research analysts at SunTrust Banks raised their FY2017 EPS estimates for Huntsman in a report released on Tuesday. SunTrust Banks analyst J. Sheehan now expects that the basic materials company will post earnings per share of $2.79 for the year, up from their previous forecast of $2.73. SunTrust Banks has a “Buy” rating and a $32.00 price target on the stock. SunTrust Banks also issued estimates for Huntsman’s Q4 2017 earnings at $0.70 EPS.
HUN has been the subject of several other reports. ValuEngine cut shares of Huntsman from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Alembic Global Advisors restated a “buy” rating on shares of Huntsman in a research report on Monday, November 6th. Nomura raised their price objective on shares of Huntsman from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. UBS increased their target price on shares of Huntsman from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Finally, BidaskClub raised shares of Huntsman from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Huntsman currently has a consensus rating of “Buy” and a consensus price target of $33.00.
Huntsman (NYSE:HUN) last released its quarterly earnings data on Friday, October 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the business earned $0.38 earnings per share. Huntsman’s revenue was up 18.5% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, December 14th. Huntsman’s dividend payout ratio (DPR) is presently 23.47%.
In other news, CEO Anthony P. Hankins sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $31.88, for a total value of $2,550,400.00. Following the completion of the transaction, the chief executive officer now owns 442,615 shares of the company’s stock, valued at $14,110,566.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Corp Huntsman sold 21,764,800 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $21.66, for a total transaction of $471,425,568.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,061,783 shares of company stock valued at $512,316,794. 19.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Huntsman by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 24 shares during the period. Synovus Financial Corp boosted its stake in shares of Huntsman by 0.7% in the second quarter. Synovus Financial Corp now owns 8,979 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 62 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Huntsman by 0.7% in the second quarter. PNC Financial Services Group Inc. now owns 28,889 shares of the basic materials company’s stock valued at $746,000 after purchasing an additional 192 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of Huntsman by 2.5% in the second quarter. Acrospire Investment Management LLC now owns 8,208 shares of the basic materials company’s stock valued at $212,000 after purchasing an additional 200 shares during the period. Finally, State of Wisconsin Investment Board boosted its stake in shares of Huntsman by 1.3% in the second quarter. State of Wisconsin Investment Board now owns 40,029 shares of the basic materials company’s stock valued at $1,034,000 after purchasing an additional 510 shares during the period. 75.45% of the stock is owned by institutional investors and hedge funds.
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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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