Kraton Corporation to Post FY2017 Earnings of $2.87 Per Share, KeyCorp Forecasts (KRA)
Kraton Corporation (NYSE:KRA) – KeyCorp raised their FY2017 earnings per share (EPS) estimates for Kraton Corporation in a research note issued on Wednesday. KeyCorp analyst M. Sison now expects that the specialty chemicals company will earn $2.87 per share for the year, up from their previous estimate of $2.30. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Kraton Corporation’s FY2018 earnings at $3.40 EPS.
Kraton Corporation (NYSE:KRA) last posted its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.57. Kraton Corporation had a net margin of 1.27% and a return on equity of 14.19%. The firm had revenue of $510.90 million for the quarter, compared to analysts’ expectations of $481.77 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis.
Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Kraton Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. ValuEngine upgraded shares of Kraton Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded shares of Kraton Corporation from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, August 1st. SunTrust Banks, Inc. reiterated a “buy” rating and set a $55.00 price objective (up previously from $45.00) on shares of Kraton Corporation in a research note on Wednesday, October 11th. They noted that the move was a valuation call. Finally, TheStreet lowered shares of Kraton Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $51.50.
Shares of Kraton Corporation (KRA) opened at 47.76 on Monday. Kraton Corporation has a 12-month low of $25.09 and a 12-month high of $49.50. The stock has a market cap of $1.49 billion, a PE ratio of 34.29 and a beta of 1.25. The stock’s 50 day moving average is $39.28 and its 200-day moving average is $35.16.
A number of large investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. purchased a new stake in Kraton Corporation during the 3rd quarter worth approximately $514,000. Strs Ohio grew its position in Kraton Corporation by 51.5% during the 3rd quarter. Strs Ohio now owns 25,900 shares of the specialty chemicals company’s stock worth $1,047,000 after purchasing an additional 8,800 shares during the last quarter. LS Investment Advisors LLC grew its position in Kraton Corporation by 31.4% during the 3rd quarter. LS Investment Advisors LLC now owns 5,369 shares of the specialty chemicals company’s stock worth $217,000 after purchasing an additional 1,282 shares during the last quarter. Brookfield Asset Management Inc. grew its position in Kraton Corporation by 5.6% during the 2nd quarter. Brookfield Asset Management Inc. now owns 475,000 shares of the specialty chemicals company’s stock worth $16,359,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Proxima Capital Management LLC grew its position in Kraton Corporation by 7.7% during the 2nd quarter. Proxima Capital Management LLC now owns 290,700 shares of the specialty chemicals company’s stock worth $10,012,000 after purchasing an additional 20,700 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.
In other Kraton Corporation news, SVP Holger R. Jung sold 21,202 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $39.64, for a total transaction of $840,447.28. Following the sale, the senior vice president now owns 48,819 shares of the company’s stock, valued at approximately $1,935,185.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James Leo Simmons sold 6,950 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $47.39, for a total transaction of $329,360.50. Following the sale, the senior vice president now directly owns 25,000 shares in the company, valued at approximately $1,184,750. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by insiders.
Kraton Corporation Company Profile
Kraton Corporation, formerly Kraton Performance Polymers, Inc, is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. The Company operates through two segments: Polymer Segment, which comprises SBCs and other engineered polymers business, and Chemical Segment, which comprises pine-based specialty products business.
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