SunTrust Banks Comments on Huntsman Corporation’s Q3 2017 Earnings (HUN)
Huntsman Corporation (NYSE:HUN) – Equities researchers at SunTrust Banks lifted their Q3 2017 earnings per share estimates for shares of Huntsman Corporation in a report released on Monday. SunTrust Banks analyst J. Sheehan now forecasts that the basic materials company will post earnings of $0.52 per share for the quarter, up from their previous forecast of $0.42. SunTrust Banks also issued estimates for Huntsman Corporation’s FY2017 earnings at $2.32 EPS and FY2018 earnings at $2.25 EPS.
Huntsman Corporation (NYSE:HUN) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.18. Huntsman Corporation had a return on equity of 30.04% and a net margin of 4.33%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year.
Several other research analysts have also recently issued reports on HUN. Instinet reaffirmed a “buy” rating and set a $34.00 price objective (up from $30.00) on shares of Huntsman Corporation in a research report on Wednesday. UBS AG upped their price objective on Huntsman Corporation from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Huntsman Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Nomura upped their price objective on Huntsman Corporation from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BidaskClub cut Huntsman Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Huntsman Corporation has a consensus rating of “Buy” and an average target price of $30.33.
Shares of Huntsman Corporation (HUN) opened at 27.66 on Thursday. Huntsman Corporation has a one year low of $14.75 and a one year high of $28.67. The firm has a market cap of $6.64 billion, a P/E ratio of 15.68 and a beta of 2.79. The firm has a 50-day moving average price of $26.42 and a 200 day moving average price of $25.20.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Huntsman Corporation in the 2nd quarter valued at about $106,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Huntsman Corporation in the 2nd quarter valued at about $109,000. SG Americas Securities LLC acquired a new stake in shares of Huntsman Corporation in the 1st quarter valued at about $122,000. Opera Trading Capital acquired a new stake in shares of Huntsman Corporation in the 2nd quarter valued at about $129,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Huntsman Corporation by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 24 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Randy W. Wright sold 32,962 shares of the company’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $25.75, for a total value of $848,771.50. Following the completion of the sale, the vice president now directly owns 69,148 shares of the company’s stock, valued at approximately $1,780,561. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Randy W. Wright sold 56,675 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $25.76, for a total value of $1,459,948.00. Following the completion of the sale, the vice president now directly owns 66,023 shares of the company’s stock, valued at $1,700,752.48. The disclosure for this sale can be found here. 19.00% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.125 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.80%. Huntsman Corporation’s dividend payout ratio (DPR) is presently 28.41%.
About Huntsman Corporation
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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