Brokerages Expect Huntsman Co. (HUN) Will Post Quarterly Sales of $2.24 Billion
Wall Street brokerages forecast that Huntsman Co. (NYSE:HUN) will report $2.24 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Huntsman’s earnings, with the lowest sales estimate coming in at $2.13 billion and the highest estimate coming in at $2.31 billion. Huntsman reported sales of $2.17 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The business is expected to issue its next earnings report on Friday, October 26th.
According to Zacks, analysts expect that Huntsman will report full year sales of $9.21 billion for the current fiscal year, with estimates ranging from $8.89 billion to $9.32 billion. For the next year, analysts forecast that the firm will post sales of $9.61 billion per share, with estimates ranging from $9.21 billion to $9.79 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Huntsman.
Huntsman (NYSE:HUN) last released its earnings results on Tuesday, July 31st. The basic materials company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.17. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.24 billion. Huntsman had a net margin of 11.92% and a return on equity of 24.14%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Huntsman by 3.3% in the 2nd quarter. BlackRock Inc. now owns 14,084,919 shares of the basic materials company’s stock worth $411,280,000 after purchasing an additional 450,117 shares in the last quarter. LSV Asset Management raised its stake in Huntsman by 10.9% in the 2nd quarter. LSV Asset Management now owns 11,453,687 shares of the basic materials company’s stock worth $334,447,000 after purchasing an additional 1,126,895 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in Huntsman by 8.2% in the 2nd quarter. Iridian Asset Management LLC CT now owns 7,764,259 shares of the basic materials company’s stock worth $226,716,000 after purchasing an additional 585,628 shares in the last quarter. Wells Fargo & Company MN raised its stake in Huntsman by 66.5% in the 2nd quarter. Wells Fargo & Company MN now owns 5,165,328 shares of the basic materials company’s stock worth $150,827,000 after purchasing an additional 2,063,494 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Huntsman by 10.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,855,367 shares of the basic materials company’s stock worth $141,780,000 after purchasing an additional 462,809 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.
Huntsman stock traded down $0.47 during mid-day trading on Tuesday, reaching $30.33. The company’s stock had a trading volume of 174,202 shares, compared to its average volume of 1,748,729. Huntsman has a 12 month low of $26.10 and a 12 month high of $36.09. The company has a market cap of $7.74 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.08 and a beta of 2.76. The company has a current ratio of 1.93, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a dividend of $0.1625 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, September 13th. Huntsman’s dividend payout ratio is presently 26.21%.
Huntsman announced that its board has initiated a share repurchase program on Wednesday, May 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 13.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
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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