$2.19 Billion in Sales Expected for Huntsman Corporation (HUN) This Quarter
Wall Street brokerages expect Huntsman Corporation (NYSE:HUN) to post $2.19 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Huntsman Corporation’s earnings, with estimates ranging from $1.95 billion to $2.53 billion. Huntsman Corporation posted sales of $2.36 billion in the same quarter last year, which would indicate a negative year over year growth rate of 7.2%. The company is expected to report its next earnings report on Friday, October 27th.
According to Zacks, analysts expect that Huntsman Corporation will report full year sales of $2.19 billion for the current year, with estimates ranging from $8.99 billion to $9.86 billion. For the next financial year, analysts expect that the firm will report sales of $8.90 billion per share, with estimates ranging from $8.12 billion to $10.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Huntsman Corporation.
Huntsman Corporation (NYSE:HUN) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.18. Huntsman Corporation had a return on equity of 30.04% and a net margin of 4.33%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Huntsman Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub cut Huntsman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Huntsman Corporation in a report on Tuesday, July 25th. Instinet reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Huntsman Corporation in a report on Sunday, July 9th. Finally, Alembic Global Advisors set a $28.00 price objective on Huntsman Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $29.00.
Shares of Huntsman Corporation (HUN) opened at 26.17 on Wednesday. The company has a market capitalization of $6.28 billion, a PE ratio of 14.84 and a beta of 2.81. The firm has a 50-day moving average price of $26.29 and a 200-day moving average price of $24.42. Huntsman Corporation has a 12 month low of $14.16 and a 12 month high of $28.30.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.50 annualized dividend and a dividend yield of 1.91%. Huntsman Corporation’s payout ratio is 28.41%.
In other news, VP Randy W. Wright sold 32,962 shares of Huntsman Corporation stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $25.75, for a total value of $848,771.50. Following the transaction, the vice president now owns 69,148 shares in the company, valued at approximately $1,780,561. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter R. Huntsman purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was acquired at an average price of $23.83 per share, for a total transaction of $238,300.00. Following the purchase, the chief executive officer now owns 4,042,720 shares in the company, valued at approximately $96,338,017.60. The disclosure for this purchase can be found here. Company insiders own 19.00% of the company’s stock.
Several institutional investors have recently modified their holdings of HUN. Bronfman E.L. Rothschild L.P. raised its position in shares of Huntsman Corporation 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 buying an additional 24 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Huntsman Corporation by 0.7% in the second quarter. Synovus Financial Corp now owns 8,979 shares of the basic materials company’s stock worth $234,000 after buying an additional 62 shares in the last quarter. Utah Retirement Systems raised its stake in shares of Huntsman Corporation by 0.3% in the first quarter. Utah Retirement Systems now owns 36,137 shares of the basic materials company’s stock worth $887,000 after buying an additional 100 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Huntsman Corporation by 0.6% in the first quarter. New York State Teachers Retirement System now owns 17,600 shares of the basic materials company’s stock worth $432,000 after buying an additional 100 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Huntsman Corporation by 0.7% in the second quarter. PNC Financial Services Group Inc. now owns 28,889 shares of the basic materials company’s stock worth $746,000 after buying an additional 192 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.
About Huntsman Corporation
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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