$2.27 Billion in Sales Expected for Huntsman Co. (NYSE:HUN) This Quarter

Wall Street brokerages forecast that Huntsman Co. (NYSE:HUN) will announce sales of $2.27 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Huntsman’s earnings. The highest sales estimate is $2.42 billion and the lowest is $2.12 billion. Huntsman reported sales of $2.44 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 7%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 29th.

On average, analysts expect that Huntsman will report full-year sales of $8.68 billion for the current financial year, with estimates ranging from $8.47 billion to $9.01 billion. For the next year, analysts anticipate that the firm will post sales of $9.08 billion, with estimates ranging from $8.74 billion to $9.48 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Huntsman.

Huntsman (NYSE:HUN) last announced its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.28 billion. Huntsman had a positive return on equity of 18.68% and a negative net margin of 1.37%. Huntsman’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share.

A number of brokerages recently commented on HUN. UBS Group set a $26.00 price objective on Huntsman and gave the stock a “buy” rating in a research report on Wednesday, July 31st. KeyCorp lowered their price objective on Huntsman from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group lowered their price objective on Huntsman from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Nomura reiterated a “buy” rating and issued a $26.00 price objective on shares of Huntsman in a research report on Sunday, August 11th. Finally, Citigroup set a $21.00 price objective on Huntsman and gave the stock a “hold” rating in a research report on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Huntsman has an average rating of “Hold” and an average target price of $27.36.

HUN stock traded up $0.73 during midday trading on Wednesday, reaching $19.51. The stock had a trading volume of 3,096,100 shares, compared to its average volume of 2,839,077. The business has a fifty day simple moving average of $20.15 and a two-hundred day simple moving average of $21.46. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.96. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 0.97 and a beta of 2.29. Huntsman has a twelve month low of $17.33 and a twelve month high of $33.04.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.1625 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.65 annualized dividend and a dividend yield of 3.33%. Huntsman’s payout ratio is currently 19.46%.

In related news, VP David M. Stryker bought 2,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average cost of $19.01 per share, for a total transaction of $38,020.00. Following the transaction, the vice president now owns 179,930 shares of the company’s stock, valued at $3,420,469.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of HUN. Icon Wealth Partners LLC acquired a new position in shares of Huntsman during the 1st quarter worth about $28,000. Meridian Wealth Management LLC acquired a new position in shares of Huntsman during the 1st quarter worth about $37,000. FinTrust Capital Advisors LLC grew its position in shares of Huntsman by 130.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,021 shares of the basic materials company’s stock worth $45,000 after buying an additional 1,143 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Huntsman by 67.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,305 shares of the basic materials company’s stock worth $52,000 after buying an additional 931 shares during the period. Finally, Pearl River Capital LLC acquired a new position in shares of Huntsman during the 1st quarter worth about $54,000. Institutional investors own 78.58% of the company’s stock.

Huntsman Company Profile

Huntsman Corporation 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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