Jefferies Group Reiterates “Buy” Rating for Huntsman Corp. (HUN)
Huntsman Corp. (NYSE:HUN)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group in a research report issued on Tuesday. They presently have a $20.00 target price on the stock. Jefferies Group’s price target points to a potential upside of 36.15% from the company’s previous close.
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.””
A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Huntsman Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 24th. Citigroup Inc. upped their price objective on shares of Huntsman Corp. from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, July 15th. Finally, Nomura reaffirmed a “buy” rating on shares of Huntsman Corp. in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Huntsman Corp. has an average rating of “Buy” and a consensus target price of $17.22.
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Huntsman Corp. (NYSE:HUN) opened at 14.69 on Tuesday. The company has a 50 day moving average price of $16.33 and a 200 day moving average price of $14.88. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 17.53 and a beta of 2.71. Huntsman Corp. has a 12 month low of $7.46 and a 12 month high of $18.12.
Huntsman Corp. (NYSE:HUN) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. The business 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%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Equities research analysts predict that Huntsman Corp. will post $1.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, September 13th. Huntsman Corp.’s dividend payout ratio (DPR) is presently 59.52%.
A number of hedge funds have recently modified their holdings of HUN. Nomura Holdings Inc. boosted its stake in shares of Huntsman Corp. by 58.9% in the second quarter. Nomura Holdings Inc. now owns 35,600 shares of the company’s stock valued at $477,000 after buying an additional 13,200 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Huntsman Corp. during the second quarter valued at $1,143,000. Public Employees Retirement System of Ohio boosted its stake in shares of Huntsman Corp. by 665.9% in the second quarter. Public Employees Retirement System of Ohio now owns 324,308 shares of the company’s stock valued at $4,362,000 after buying an additional 281,964 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Huntsman Corp. by 6.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 612,542 shares of the company’s stock valued at $8,316,000 after buying an additional 39,059 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Huntsman Corp. by 27.8% in the second quarter. Stifel Financial Corp now owns 69,327 shares of the company’s stock valued at $933,000 after buying an additional 15,088 shares in the last quarter. 67.33% of the stock is currently owned by hedge funds and other institutional investors.
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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