Huntsman Corporation (HUN) Forecasted to Post FY2018 Earnings of $2.35 Per Share
Huntsman Corporation (NYSE:HUN) – Equities research analysts at KeyCorp upped their FY2018 earnings estimates for Huntsman in a report issued on Sunday. KeyCorp analyst M. Sison now expects that the basic materials company will post earnings per share of $2.35 for the year, up from their previous estimate of $2.00. KeyCorp currently has a “Buy” rating and a $34.00 target price on the stock.
Several other research analysts have also weighed in on the stock. J P Morgan Chase & Co assumed coverage on shares of Huntsman in a research note on Wednesday. They set an “overweight” rating and a $36.00 price objective on the stock. Goldman Sachs Group restated a “hold” rating and set a $36.00 price objective on shares of Huntsman in a research note on Monday, December 4th. Alembic Global Advisors restated a “buy” rating on shares of Huntsman in a research note on Monday, November 6th. UBS boosted their price objective on shares of Huntsman from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Nomura boosted their price objective on shares of Huntsman to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Huntsman has a consensus rating of “Buy” and an average 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 for the quarter, topping the consensus estimate of $0.50 by $0.17. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. Huntsman had a net margin of 5.37% and a return on equity of 30.64%. Huntsman’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new position in Huntsman in the 3rd quarter valued at about $828,000. Algert Global LLC acquired a new position in Huntsman in the 3rd quarter valued at about $2,480,000. California Public Employees Retirement System boosted its holdings in Huntsman by 6.2% in the 3rd quarter. California Public Employees Retirement System now owns 581,447 shares of the basic materials company’s stock valued at $15,943,000 after purchasing an additional 33,947 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Huntsman in the 3rd quarter valued at about $642,000. Finally, Point72 Asset Management L.P. boosted its holdings in Huntsman by 243.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,824,233 shares of the basic materials company’s stock valued at $77,440,000 after purchasing an additional 2,001,233 shares during the period. Institutional investors and hedge funds own 75.47% of the company’s stock.
In related news, Chairman Jon M. Huntsman sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $32.32, for a total value of $3,232,000.00. Following the transaction, the chairman now owns 115,206 shares in the company, valued at approximately $3,723,457.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Jon M. Huntsman sold 383,610 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $31.58, for a total transaction of $12,114,403.80. Following the completion of the transaction, the chairman now owns 115,206 shares in the company, valued at approximately $3,638,205.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,061,783 shares of company stock worth $512,316,794. 19.00% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.58%. Huntsman’s dividend payout ratio (DPR) is currently 23.47%.
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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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