$2.24 Billion in Sales Expected for Huntsman Co. (HUN) This Quarter

Wall Street brokerages forecast that Huntsman Co. (NYSE:HUN) will report $2.24 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Huntsman’s earnings, with the highest sales estimate coming in at $2.31 billion and the lowest estimate coming in at $2.13 billion. Huntsman posted sales of $2.17 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The company is expected to report its next earnings results before the market opens on Friday, October 26th.

On average, analysts expect that Huntsman will report full year sales of $9.16 billion for the current year, with estimates ranging from $8.89 billion to $9.32 billion. For the next fiscal year, analysts forecast that the company will post sales of $9.44 billion, with estimates ranging from $8.78 billion to $9.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Huntsman.

Huntsman (NYSE:HUN) last released its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.17. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Huntsman had a return on equity of 24.14% and a net margin of 11.92%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share.

Several brokerages recently commented on HUN. Barclays began coverage on Huntsman in a report on Monday. They issued an “underweight” rating and a $29.00 target price on the stock. ValuEngine cut Huntsman from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Citigroup cut Huntsman from a “buy” rating to a “neutral” rating and reduced their target price for the company from $43.00 to $30.00 in a report on Monday, October 1st. Morgan Stanley began coverage on Huntsman in a report on Tuesday, September 25th. They issued an “equal weight” rating and a $30.00 target price on the stock. Finally, MED reiterated a “buy” rating on shares of Huntsman in a report on Monday, September 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $35.92.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brinker Capital Inc. lifted its stake in Huntsman by 17.7% in the first quarter. Brinker Capital Inc. now owns 12,148 shares of the basic materials company’s stock valued at $355,000 after buying an additional 1,831 shares during the period. Northpointe Capital LLC lifted its stake in Huntsman by 2.0% in the second quarter. Northpointe Capital LLC now owns 109,733 shares of the basic materials company’s stock valued at $3,204,000 after buying an additional 2,152 shares during the period. Point72 Hong Kong Ltd lifted its stake in Huntsman by 46.5% in the second quarter. Point72 Hong Kong Ltd now owns 7,038 shares of the basic materials company’s stock valued at $206,000 after buying an additional 2,235 shares during the period. United Services Automobile Association lifted its stake in Huntsman by 0.9% in the second quarter. United Services Automobile Association now owns 262,338 shares of the basic materials company’s stock valued at $7,660,000 after buying an additional 2,417 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Huntsman by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 26,832 shares of the basic materials company’s stock valued at $784,000 after buying an additional 2,511 shares during the period. 77.15% of the stock is currently owned by hedge funds and other institutional investors.

HUN stock traded down $0.41 during trading on Monday, hitting $25.83. The company had a trading volume of 2,393,700 shares, compared to its average volume of 2,665,779. Huntsman has a one year low of $25.65 and a one year high of $36.09. The stock has a market capitalization of $6.51 billion, a PE ratio of 10.43, a PEG ratio of 0.91 and a beta of 2.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.93 and a quick ratio of 1.58.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a $0.1625 dividend. This represents a $0.65 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, September 13th. Huntsman’s dividend payout ratio (DPR) is presently 26.21%.

Huntsman Company Profile

Huntsman Corporation, through its subsidiary, Huntsman International LLC, 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.

Read More: What are the Benefits of Index Funds?

Get a free copy of the Zacks research report on Huntsman (HUN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Huntsman Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Huntsman and related companies with MarketBeat.com’s FREE daily email newsletter.

Original Source