Huntsman Co. (NYSE:HUN) – Investment analysts at KeyCorp raised their Q2 2018 earnings per share (EPS) estimates for shares of Huntsman in a research report issued to clients and investors on Wednesday, May 23rd. KeyCorp analyst M. Sison now anticipates that the basic materials company will post earnings per share of $0.90 for the quarter, up from their previous estimate of $0.85. KeyCorp currently has a “Overweight” rating and a $42.00 price target on the stock. KeyCorp also issued estimates for Huntsman’s FY2018 earnings at $3.15 EPS, FY2019 earnings at $3.50 EPS and FY2020 earnings at $4.05 EPS.
Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Huntsman from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 17th. Nomura lowered shares of Huntsman from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $36.00 in a report on Tuesday, March 20th. Citigroup lowered their target price on shares of Huntsman from $43.00 to $42.50 and set a “buy” rating on the stock in a report on Tuesday, April 10th. Zacks Investment Research lowered shares of Huntsman from a “buy” rating to a “hold” rating in a report on Tuesday, April 24th. Finally, MED restated a “buy” rating and issued a $40.00 target price on shares of Huntsman in a report on Tuesday, May 1st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.27.
HUN opened at $32.26 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.58 and a debt-to-equity ratio of 0.61. Huntsman has a fifty-two week low of $23.12 and a fifty-two week high of $36.09. The stock has a market capitalization of $7.67 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 1.22 and a beta of 2.72.
Huntsman (NYSE:HUN) last posted its earnings results on Tuesday, May 1st. The basic materials company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.19. Huntsman had a net margin of 8.98% and a return on equity of 27.32%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the business posted $0.57 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year.
Huntsman announced that its Board of Directors has initiated a stock buyback program on Friday, February 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a $0.1625 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.65 annualized dividend and a yield of 2.01%. Huntsman’s dividend payout ratio (DPR) is 26.21%.
In other Huntsman news, VP J Kimo Esplin sold 34,399 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $31.81, for a total value of $1,094,232.19. Following the completion of the sale, the vice president now owns 398,973 shares in the company, valued at approximately $12,691,331.13. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 19.00% of the company’s stock.
A number of large investors have recently bought and sold shares of HUN. Iridian Asset Management LLC CT purchased a new stake in Huntsman in the 4th quarter valued at about $205,327,000. Millennium Management LLC increased its stake in shares of Huntsman by 766.0% during the 4th quarter. Millennium Management LLC now owns 6,494,754 shares of the basic materials company’s stock worth $216,210,000 after purchasing an additional 5,744,820 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Huntsman by 292.7% during the 4th quarter. Bank of New York Mellon Corp now owns 5,538,830 shares of the basic materials company’s stock worth $184,387,000 after purchasing an additional 4,128,204 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Huntsman by 254.8% during the 4th quarter. Two Sigma Investments LP now owns 3,534,199 shares of the basic materials company’s stock worth $117,653,000 after purchasing an additional 2,537,977 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Huntsman by 264.5% during the 1st quarter. Wells Fargo & Company MN now owns 3,101,834 shares of the basic materials company’s stock worth $90,728,000 after purchasing an additional 2,250,857 shares during the last quarter. Hedge funds and other institutional investors own 79.34% of the company’s stock.
Huntsman Company Profile
Huntsman Corporation, through its subsidiary, Huntsman International LLC, manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
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