Huntsman Corp.’s (HUN) Buy Rating Reaffirmed at Jefferies Group
Huntsman Corp. (NYSE:HUN)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group in a report released on Tuesday. They currently have a $20.00 target price on the stock. Jefferies Group’s price objective would suggest a potential upside of 37.27% from the company’s current price.
The analysts wrote, “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.””
HUN has been the subject of a number of other reports. Zacks Investment Research lowered shares of Huntsman Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 24th. Nomura reissued a “buy” rating on shares of Huntsman Corp. in a research note on Tuesday, July 12th. Finally, Citigroup Inc. boosted their target price on shares of Huntsman Corp. from $16.00 to $17.00 and gave the company a “neutral” rating in a research note 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 issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $17.44.
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Shares of Huntsman Corp. (NYSE:HUN) traded down 0.82% during mid-day trading on Tuesday, reaching $14.57. 3,586,428 shares of the company were exchanged. The company’s 50 day moving average price is $16.33 and its 200 day moving average price is $14.88. Huntsman Corp. has a 12 month low of $7.46 and a 12 month high of $18.12. The firm has a market capitalization of $3.47 billion, a PE ratio of 17.39 and a beta of 2.71.
Huntsman Corp. (NYSE:HUN) last posted 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. The firm earned $2.54 billion during the quarter, compared to analyst estimates of $2.59 billion. Huntsman Corp. had a net margin of 2.05% and a return on equity of 26.60%. Huntsman Corp.’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. Equities analysts anticipate that Huntsman Corp. will post $1.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.43%. Huntsman Corp.’s payout ratio is currently 59.52%.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Group LTD increased its stake in Huntsman Corp. by 32.8% in the first quarter. BlackRock Group LTD now owns 257,136 shares of the company’s stock worth $3,421,000 after buying an additional 63,485 shares during the last quarter. Prudential Financial Inc. increased its stake in Huntsman Corp. by 34.0% in the first quarter. Prudential Financial Inc. now owns 2,487,105 shares of the company’s stock worth $33,079,000 after buying an additional 631,500 shares during the last quarter. Teachers Advisors Inc. increased its stake in Huntsman Corp. by 39.4% in the first quarter. Teachers Advisors Inc. now owns 393,853 shares of the company’s stock worth $5,238,000 after buying an additional 111,283 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Huntsman Corp. by 35.9% in the first quarter. TIAA CREF Investment Management LLC now owns 684,436 shares of the company’s stock worth $9,103,000 after buying an additional 180,705 shares during the last quarter. Finally, Ngam Advisors L.P. acquired a new stake in Huntsman Corp. during the first quarter worth approximately $231,000. Institutional investors and hedge funds own 67.33% of the company’s stock.
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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