Huntsman Co. (HUN) Forecasted to Post FY2017 Earnings of $2.79 Per Share

Huntsman Co. (NYSE:HUN) – Equities research analysts at SunTrust Banks increased their FY2017 earnings per share (EPS) estimates for shares of Huntsman in a research note issued to investors on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst J. Sheehan now anticipates that the basic materials company will post earnings of $2.79 per share for the year, up from their prior estimate of $2.73. SunTrust Banks has a “Buy” rating and a $32.00 price objective on the stock. SunTrust Banks also issued estimates for Huntsman’s Q4 2017 earnings at $0.70 EPS.

Huntsman (NYSE:HUN) last released its quarterly earnings data on Friday, October 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.17. Huntsman had a net margin of 5.37% and a return on equity of 30.64%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the business earned $0.38 earnings per share. Huntsman’s revenue was up 18.5% compared to the same quarter last year.

Several other brokerages have also weighed in on HUN. Wells Fargo & Co raised shares of Huntsman from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $32.00 in a research note on Thursday, September 28th. UBS Group increased their target price on shares of Huntsman from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Nomura increased their target price on shares of Huntsman to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. KeyCorp reaffirmed a “buy” rating and set a $34.00 target price on shares of Huntsman in a research note on Tuesday, October 17th. Finally, Instinet reaffirmed a “buy” rating and set a $34.00 target price (up previously from $30.00) on shares of Huntsman in a research note on Wednesday, September 20th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $33.00.

Huntsman (NYSE:HUN) traded up $0.49 during trading on Wednesday, reaching $34.59. 2,481,165 shares of the company traded hands, compared to its average volume of 2,498,533. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $8,300.00, a PE ratio of 20.11, a P/E/G ratio of 1.75 and a beta of 2.84. Huntsman has a 52-week low of $19.52 and a 52-week high of $35.00.

A number of hedge funds have recently added to or reduced their stakes in HUN. CNH Partners LLC acquired a new stake in Huntsman during the second quarter worth approximately $173,105,000. Farallon Capital Management LLC acquired a new stake in Huntsman during the second quarter worth approximately $140,053,000. OxFORD Asset Management LLP acquired a new stake in Huntsman during the third quarter worth approximately $78,686,000. Principal Financial Group Inc. raised its holdings in Huntsman by 119.2% during the second quarter. Principal Financial Group Inc. now owns 4,809,158 shares of the basic materials company’s stock worth $124,269,000 after purchasing an additional 2,615,454 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Huntsman by 90.4% during the second quarter. JPMorgan Chase & Co. now owns 5,391,025 shares of the basic materials company’s stock worth $139,304,000 after purchasing an additional 2,559,069 shares in the last quarter. 75.45% of the stock is currently owned by institutional investors.

In related news, CEO Anthony P. Hankins sold 100,000 shares of Huntsman stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $33.24, for a total value of $3,324,000.00. Following the completion of the transaction, the chief executive officer now owns 462,615 shares in the company, valued at $15,377,322.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jon M. Huntsman sold 383,610 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $31.58, for a total transaction of $12,114,403.80. Following the sale, the chairman now directly owns 115,206 shares in the company, valued at approximately $3,638,205.48. The disclosure for this sale can be found here. Insiders sold 25,210,738 shares of company stock valued at $561,179,159 in the last quarter. 19.00% of the stock is owned by insiders.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a $0.125 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.45%. Huntsman’s dividend payout ratio is currently 29.07%.

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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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