KeyCorp Brokers Reduce Earnings Estimates for Huntsman Corp. (HUN)
Huntsman Corp. (NYSE:HUN) – Stock analysts at KeyCorp dropped their FY2016 earnings per share (EPS) estimates for shares of Huntsman Corp. in a research report issued to clients and investors on Monday. KeyCorp analyst I. Marcuse now expects that the brokerage will post earnings of $1.55 per share for the year, down from their previous forecast of $1.75. KeyCorp also issued estimates for Huntsman Corp.’s FY2017 earnings at $1.70 EPS.
Huntsman Corp. (NYSE:HUN) last issued its earnings results on Wednesday, July 27th. The company reported $0.53 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The company earned $2.54 billion during the quarter, compared to the consensus estimate of $2.59 billion. Huntsman Corp. had a return on equity of 26.60% and a net margin of 2.05%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Huntsman Corp. from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, July 1st. Jefferies Group reiterated a “buy” rating on shares of Huntsman Corp. in a research report on Thursday, August 4th. Nomura reiterated a “buy” rating on shares of Huntsman Corp. in a research report on Tuesday, July 12th. Finally, Citigroup Inc. upped their target price on shares of Huntsman Corp. from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.44.
Shares of Huntsman Corp. (NYSE:HUN) opened at 15.63 on Tuesday. The stock has a 50 day moving average price of $16.33 and a 200 day moving average price of $14.90. Huntsman Corp. has a 52 week low of $7.46 and a 52 week high of $18.12. The firm has a market capitalization of $3.72 billion, a P/E ratio of 18.65 and a beta of 2.71.
Institutional investors have recently modified their holdings of the stock. BlackRock Group LTD increased its position in shares of Huntsman Corp. by 32.8% in the first quarter. BlackRock Group LTD now owns 257,136 shares of the company’s stock valued at $3,421,000 after buying an additional 63,485 shares during the period. Prudential Financial Inc. increased its position in shares of Huntsman Corp. by 34.0% in the first quarter. Prudential Financial Inc. now owns 2,487,105 shares of the company’s stock valued at $33,079,000 after buying an additional 631,500 shares during the period. Teachers Advisors Inc. increased its position in shares of Huntsman Corp. by 39.4% in the first quarter. Teachers Advisors Inc. now owns 393,853 shares of the company’s stock valued at $5,238,000 after buying an additional 111,283 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Huntsman Corp. by 35.9% in the first quarter. TIAA CREF Investment Management LLC now owns 684,436 shares of the company’s stock valued at $9,103,000 after buying an additional 180,705 shares during the period. Finally, Ngam Advisors L.P. purchased a new position in shares of Huntsman Corp. during the first quarter valued at approximately $231,000. 67.25% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, September 13th. Huntsman Corp.’s dividend payout ratio (DPR) is 59.52%.
Huntsman Corp. 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). It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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