Jefferies Group Reaffirms Buy Rating for Huntsman Corp. (HUN)
“Results will be uneven in the near term with margin pressure in MTBE offsetting a sequential improvement in MDI. A recent string of storms in the Gulf Coast were likely a $10-$15m headwind in Q3.”,” Jefferies Group’s analyst wrote.
A number of other research analysts have also issued reports on HUN. Zacks Investment Research upgraded Huntsman Corp. from a hold rating to a buy rating and set a $15.00 target price on the stock in a research report on Friday, July 1st. Nomura reiterated a buy rating on shares of Huntsman Corp. in a research report on Tuesday, July 12th. Finally, Citigroup Inc. increased their target price on Huntsman Corp. from $16.00 to $17.00 and gave the company a neutral rating in a research report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $17.44.
Huntsman Corp. (NYSE:HUN) opened at 15.82 on Tuesday. Huntsman Corp. has a 1-year low of $7.46 and a 1-year high of $18.12. The firm’s 50-day moving average is $16.34 and its 200 day moving average is $14.91. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 18.88 and a beta of 2.71.
Huntsman Corp. (NYSE:HUN) last announced its earnings results on Wednesday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. Huntsman Corp. had a return on equity of 26.60% and a net margin of 2.05%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue was down 7.2% on a year-over-year basis. Equities analysts anticipate that Huntsman Corp. will post $1.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Tuesday, September 13th. Huntsman Corp.’s dividend payout ratio (DPR) is presently 59.52%.
Hedge funds have recently modified their holdings of the company. Synovus Financial Corp increased its stake in shares of Huntsman Corp. by 0.4% in the second quarter. Synovus Financial Corp now owns 12,693 shares of the company’s stock worth $174,000 after buying an additional 52 shares during the period. Comerica Bank increased its stake in shares of Huntsman Corp. by 0.4% in the second quarter. Comerica Bank now owns 48,078 shares of the company’s stock worth $787,000 after buying an additional 183 shares during the period. Creative Planning increased its stake in shares of Huntsman Corp. by 2.5% in the second quarter. Creative Planning now owns 8,270 shares of the company’s stock worth $111,000 after buying an additional 200 shares during the period. Janus Capital Management LLC increased its stake in shares of Huntsman Corp. by 1.8% in the second quarter. Janus Capital Management LLC now owns 11,400 shares of the company’s stock worth $153,000 after buying an additional 200 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Huntsman Corp. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 91,970 shares of the company’s stock worth $1,223,000 after buying an additional 1,238 shares during the period. 67.25% of the stock is owned by institutional investors and hedge funds.
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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