Wall Street brokerages expect Huntsman Co. (NYSE:HUN) to post $2.15 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Huntsman’s earnings, with estimates ranging from $2.11 billion to $2.20 billion. Huntsman posted sales of $2.47 billion in the same quarter last year, which would indicate a negative year over year growth rate of 13%. The company is expected to report its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Huntsman will report full year sales of $2.15 billion for the current year, with estimates ranging from $8.43 billion to $8.77 billion. For the next financial year, analysts expect that the firm will report sales of $8.93 billion per share, with estimates ranging from $8.65 billion to $9.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Huntsman.
Huntsman (NYSE:HUN) last released its quarterly earnings data on Friday, February 23rd. The basic materials company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.10. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.10 billion. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share.
Huntsman (HUN) traded up $0.86 during trading hours on Thursday, hitting $32.55. 3,582,144 shares of the stock were exchanged, compared to its average volume of 3,160,000. The firm has a market capitalization of $7,810.00, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.44 and a beta of 2.71. Huntsman has a 1 year low of $21.67 and a 1 year high of $36.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.83 and a quick ratio of 1.50.
Huntsman announced that its Board of Directors has initiated a share buyback program on Friday, February 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be issued a dividend of $0.1625 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 dividend on an annualized basis and a yield of 2.00%. Huntsman’s dividend payout ratio is 28.74%.
In related news, insider Monte G. Edlund sold 2,000 shares of the stock in a transaction on Saturday, February 17th. The shares were sold at an average price of $21.40, for a total transaction of $42,800.00. Following the sale, the insider now directly owns 52,696 shares of the company’s stock, valued at $1,127,694.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony P. Hankins sold 100,000 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $33.24, for a total transaction of $3,324,000.00. Following the sale, the chief executive officer now directly owns 462,615 shares in the company, valued at $15,377,322.60. The disclosure for this sale can be found here. Insiders have sold 2,150,955 shares of company stock worth $48,905,165 over the last three months. 19.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings in Huntsman by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 610 shares in the last quarter. First Trust Advisors LP lifted its holdings in Huntsman by 19.4% during the third quarter. First Trust Advisors LP now owns 286,479 shares of the basic materials company’s stock valued at $7,855,000 after purchasing an additional 46,592 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in Huntsman by 1,072.6% during the third quarter. State of Wisconsin Investment Board now owns 469,378 shares of the basic materials company’s stock valued at $12,870,000 after purchasing an additional 429,349 shares in the last quarter. American Century Companies Inc. lifted its holdings in Huntsman by 32.4% during the third quarter. American Century Companies Inc. now owns 1,545,730 shares of the basic materials company’s stock valued at $42,384,000 after purchasing an additional 378,093 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Huntsman by 20.4% during the third quarter. Principal Financial Group Inc. now owns 5,792,566 shares of the basic materials company’s stock valued at $158,832,000 after purchasing an additional 983,408 shares in the last quarter. 74.87% of the stock is currently owned by hedge funds and other institutional investors.
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Huntsman 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). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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