Zacks Investment Research Downgrades Huntsman Corp. (HUN) to Sell
Huntsman Corp. (NYSE:HUN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Huntsman Corporation is among the world’s largest global manufacturers of differentiated and commodity chemical products for a variety of industrial and consumer applications. “
A number of other equities research analysts also recently weighed in on HUN. Nomura reiterated a “buy” rating on shares of Huntsman Corp. in a report on Tuesday, July 12th. Citigroup Inc. upped their price objective on Huntsman Corp. from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, July 15th. Finally, Jefferies Group restated a “buy” rating and set a $20.00 price objective on shares of Huntsman Corp. in a research note on Tuesday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $16.43.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/zacks-investment-research-downgrades-huntsman-corp-hun-to-sell.html
Huntsman Corp. (NYSE:HUN) traded up 0.77% on Tuesday, hitting $15.78. The stock had a trading volume of 2,023,517 shares. The company has a market cap of $3.76 billion, a PE ratio of 18.83 and a beta of 2.65. The stock has a 50-day moving average of $15.99 and a 200-day moving average of $15.35. Huntsman Corp. has a one year low of $7.46 and a one year high of $18.12.
Huntsman Corp. (NYSE:HUN) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. Huntsman Corp. had a return on equity of 26.60% and a net margin of 2.05%. The business earned $2.54 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Huntsman Corp. will post $1.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.50 annualized dividend and a dividend yield of 3.17%. Huntsman Corp.’s payout ratio is 59.52%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HUN. Creative Planning boosted its position in Huntsman Corp. by 2.5% in the second quarter. Creative Planning now owns 8,270 shares of the company’s stock valued at $111,000 after buying an additional 200 shares during the last quarter. Rational Advisors LLC acquired a new position in Huntsman Corp. during the second quarter valued at about $125,000. OMERS ADMINISTRATION Corp acquired a new position in Huntsman Corp. during the first quarter valued at about $137,000. HighTower Advisors LLC acquired a new position in Huntsman Corp. during the second quarter valued at about $142,000. Finally, Loomis Sayles & Co. L P acquired a new position in Huntsman Corp. during the first quarter valued at about $148,000. 67.23% of the stock is owned by 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Huntsman Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntsman Corp. and related companies with MarketBeat.com's FREE daily email newsletter.