FY2017 Earnings Forecast for Kraton Corporation Issued By KeyCorp (KRA)
Kraton Corporation (NYSE:KRA) – Stock analysts at KeyCorp boosted their FY2017 EPS estimates for shares of Kraton Corporation in a research note issued on Wednesday. KeyCorp analyst M. Sison now forecasts that the specialty chemicals company will post earnings per share of $2.87 for the year, up from their prior estimate of $2.30. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Kraton Corporation’s FY2018 earnings at $3.40 EPS.
Kraton Corporation (NYSE:KRA) last posted its earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.57. Kraton Corporation had a return on equity of 14.19% and a net margin of 1.27%. The business had revenue of $510.90 million during the quarter, compared to analysts’ expectations of $481.77 million. During the same period in the prior year, the business earned $0.63 EPS. Kraton Corporation’s revenue for the quarter was up 12.5% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: This article was originally posted by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://www.americanbankingnews.com/2017/10/30/fy2017-earnings-forecast-for-kraton-corporation-issued-by-keycorp-kra.html.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Kraton Corporation from a “strong-buy” rating to a “hold” rating in a report on Friday, October 13th. Loop Capital initiated coverage on Kraton Corporation in a report on Thursday, September 28th. They issued a “buy” rating and a $65.00 target price for the company. UBS AG initiated coverage on Kraton Corporation in a report on Friday, September 29th. They issued a “buy” rating and a $65.00 target price for the company. BidaskClub upgraded Kraton Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $55.00 target price (up from $45.00) on shares of Kraton Corporation in a report on Wednesday, October 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $49.25.
Shares of Kraton Corporation (KRA) opened at 48.47 on Monday. The company has a market capitalization of $1.51 billion, a PE ratio of 34.80 and a beta of 1.26. Kraton Corporation has a 1-year low of $24.95 and a 1-year high of $48.74. The company’s 50-day moving average price is $38.84 and its 200-day moving average price is $35.00.
In other news, SVP Holger R. Jung sold 21,202 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $39.64, for a total transaction of $840,447.28. Following the completion of the sale, the senior vice president now owns 48,819 shares in the company, valued at $1,935,185.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James Leo Simmons sold 6,950 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $47.39, for a total value of $329,360.50. Following the sale, the senior vice president now owns 25,000 shares of the company’s stock, valued at approximately $1,184,750. The disclosure for this sale can be found here. Insiders own 5.01% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of Kraton Corporation by 0.6% during the second quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock valued at $132,000 after acquiring an additional 21 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Kraton Corporation by 80.4% during the second quarter. State of Alaska Department of Revenue now owns 6,152 shares of the specialty chemicals company’s stock valued at $211,000 after acquiring an additional 2,742 shares in the last quarter. LS Investment Advisors LLC increased its holdings in shares of Kraton Corporation by 31.4% during the third quarter. LS Investment Advisors LLC now owns 5,369 shares of the specialty chemicals company’s stock valued at $217,000 after acquiring an additional 1,282 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Kraton Corporation during the second quarter valued at approximately $220,000. Finally, Aperio Group LLC bought a new stake in shares of Kraton Corporation during the second quarter valued at approximately $226,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.
About Kraton Corporation
Kraton Corporation, formerly Kraton Performance Polymers, Inc, is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. The Company operates through two segments: Polymer Segment, which comprises SBCs and other engineered polymers business, and Chemical Segment, which comprises pine-based specialty products business.
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