Huntsman Co. (NYSE:HUN) Expected to Announce Quarterly Sales of $1.76 Billion

Brokerages predict that Huntsman Co. (NYSE:HUN) will post $1.76 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for Huntsman’s earnings, with the highest sales estimate coming in at $1.79 billion and the lowest estimate coming in at $1.73 billion. Huntsman reported sales of $2.44 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 27.9%. The business is expected to announce its next quarterly earnings results before the market opens on Friday, October 25th.

According to Zacks, analysts expect that Huntsman will report full-year sales of $7.70 billion for the current year, with estimates ranging from $7.57 billion to $7.77 billion. For the next fiscal year, analysts expect that the business will post sales of $7.21 billion, with estimates ranging from $6.99 billion to $7.43 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Huntsman.

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

A number of research analysts have issued reports on HUN shares. Barclays reissued a “sell” rating and set a $19.00 price objective on shares of Huntsman in a research report on Wednesday, July 31st. Alembic Global Advisors raised shares of Huntsman from a “neutral” rating to an “overweight” rating in a research report on Monday, September 23rd. KeyCorp reduced their price objective on shares of Huntsman from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Nomura reissued a “buy” rating and set a $26.00 price objective on shares of Huntsman in a research report on Sunday, August 11th. Finally, UBS Group boosted their price objective on shares of Huntsman from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Huntsman currently has a consensus rating of “Hold” and an average target price of $27.17.

Shares of Huntsman stock opened at $23.24 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.96. The company’s fifty day simple moving average is $22.18 and its two-hundred day simple moving average is $21.00. The company has a market cap of $5.23 billion, a P/E ratio of 6.96, a PEG ratio of 1.46 and a beta of 2.33. Huntsman has a 12-month low of $17.33 and a 12-month high of $25.66.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.1625 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, September 12th. Huntsman’s dividend payout ratio is presently 19.46%.

Large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in shares of Huntsman by 225.8% in the 2nd quarter. Bessemer Group Inc. now owns 18,943 shares of the basic materials company’s stock worth $387,000 after buying an additional 13,129 shares during the period. Scout Investments Inc. grew its position in shares of Huntsman by 2.0% in the 3rd quarter. Scout Investments Inc. now owns 1,117,680 shares of the basic materials company’s stock worth $25,997,000 after buying an additional 22,381 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Huntsman by 85.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 473,808 shares of the basic materials company’s stock worth $9,685,000 after buying an additional 218,389 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Huntsman in the 2nd quarter worth about $208,000. Finally, Bank of Montreal Can grew its position in shares of Huntsman by 25.8% in the 2nd quarter. Bank of Montreal Can now owns 374,083 shares of the basic materials company’s stock worth $7,645,000 after buying an additional 76,621 shares during the period. 74.57% of the stock is currently owned by hedge funds and other institutional investors.

About Huntsman

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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