KeyCorp Brokers Increase Earnings Estimates for Huntsman Corporation (HUN)
Huntsman Corporation (NYSE:HUN) – Research analysts at KeyCorp raised their FY2017 earnings estimates for Huntsman in a report released on Sunday. KeyCorp analyst M. Sison now anticipates that the basic materials company will post earnings of $2.70 per share for the year, up from their previous forecast of $2.60. KeyCorp has a “Buy” rating and a $34.00 price target on the stock. KeyCorp also issued estimates for Huntsman’s Q4 2017 earnings at $0.61 EPS.
A number of other equities analysts have also issued reports on the company. Goldman Sachs Group reaffirmed a “hold” rating and issued a $36.00 target price on shares of Huntsman in a research report on Monday, December 4th. Alembic Global Advisors reaffirmed a “buy” rating on shares of Huntsman in a research report on Monday, November 6th. UBS boosted their price target on Huntsman from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 30th. Nomura boosted their price target on Huntsman to $40.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $32.00 price target on shares of Huntsman in a report on Friday, October 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Huntsman has an average rating of “Buy” and an average target price of $32.73.
Huntsman (NYSE:HUN) last announced its earnings results on Friday, October 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.17. Huntsman had a return on equity of 30.64% and a net margin of 5.37%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the company posted $0.38 EPS. Huntsman’s quarterly revenue was up 18.5% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Huntsman in the third quarter valued at $828,000. Algert Global LLC acquired a new stake in shares of Huntsman in the third quarter valued at $2,480,000. California Public Employees Retirement System lifted its holdings in shares of Huntsman by 6.2% in the third quarter. California Public Employees Retirement System now owns 581,447 shares of the basic materials company’s stock valued at $15,943,000 after buying an additional 33,947 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Huntsman in the third quarter valued at $642,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Huntsman by 243.2% in the third 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 buying an additional 2,001,233 shares during the period. Institutional investors and hedge funds own 75.47% of the company’s stock.
In other news, VP J Kimo Esplin sold 240,793 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $30.99, for a total value of $7,462,175.07. Following the completion of the transaction, the vice president now owns 528,889 shares of the company’s stock, valued at $16,390,270.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alvin V. Shoemaker sold 38,009 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.28, for a total value of $1,188,921.52. Following the completion of the transaction, the director now directly owns 37,227 shares of the company’s stock, valued at approximately $1,164,460.56. The disclosure for this sale can be found here. In the last three months, insiders sold 23,061,783 shares of company stock valued at $512,316,794. Company insiders own 19.00% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.125 per share. 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 payout ratio is currently 23.47%.
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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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