Huntsman Corp (NYSE:HUN) – Equities researchers at KeyCorp upped their Q2 2018 earnings per share (EPS) estimates for shares of Huntsman in a research report issued to clients and investors on Wednesday, April 11th, Zacks Investment Research reports. KeyCorp analyst M. Sison now forecasts that the basic materials company will post earnings of $0.75 per share for the quarter, up from their previous forecast of $0.61. KeyCorp has a “Overweight” rating and a $42.00 price objective on the stock. KeyCorp also issued estimates for Huntsman’s Q4 2018 earnings at $0.60 EPS.
Several other analysts also recently commented on HUN. Tudor Pickering started coverage on shares of Huntsman in a research report on Friday, January 19th. They issued a “buy” rating for the company. Jefferies Group upped their price target on shares of Huntsman to $43.00 and gave the company a “buy” rating in a research report on Friday, January 26th. ValuEngine upgraded shares of Huntsman from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Citigroup upped their price target on shares of Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Instinet reiterated a “neutral” rating on shares of Huntsman in a research report on Tuesday, March 20th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $35.96.
Huntsman (NYSE:HUN) last issued its earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.10. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in Huntsman by 2.5% during the 4th quarter. BlackRock Inc. now owns 11,671,197 shares of the basic materials company’s stock worth $388,534,000 after buying an additional 280,753 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Huntsman in the 4th quarter valued at about $4,277,000. Allianz Asset Management GmbH increased its holdings in shares of Huntsman by 198.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,298,724 shares of the basic materials company’s stock valued at $43,234,000 after purchasing an additional 863,236 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Huntsman in the 4th quarter valued at about $439,000. Finally, Shell Asset Management Co. increased its holdings in shares of Huntsman by 406.3% in the 4th quarter. Shell Asset Management Co. now owns 83,626 shares of the basic materials company’s stock valued at $2,784,000 after purchasing an additional 67,109 shares in the last quarter. Institutional investors own 76.15% of the company’s stock.
In other Huntsman news, insider Monte G. Edlund sold 2,000 shares of the company’s stock in a transaction on Saturday, February 17th. The shares were sold at an average price of $21.40, for a total transaction of $42,800.00. Following the completion of the transaction, the insider now owns 52,696 shares in the company, valued at approximately $1,127,694.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.90% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were given a dividend of $0.1625 per share. The ex-dividend date was Wednesday, March 14th. This represents a $0.65 dividend on an annualized basis and a yield of 2.18%. This is an increase from Huntsman’s previous quarterly dividend of $0.13. Huntsman’s dividend payout ratio is presently 26.21%.
Huntsman declared that its Board of Directors has initiated a share buyback plan on Friday, February 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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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