Huntsman (NYSE:HUN) Announces Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Huntsman (NYSE:HUNGet Rating) released its quarterly earnings data on Thursday. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17, MarketWatch Earnings reports. Huntsman had a return on equity of 19.44% and a net margin of 12.36%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year.

HUN stock opened at $33.69 on Friday. Huntsman has a twelve month low of $24.09 and a twelve month high of $41.65. The company has a quick ratio of 1.33, a current ratio of 1.92 and a debt-to-equity ratio of 0.34. The company has a market cap of $7.23 billion, a P/E ratio of 7.11, a price-to-earnings-growth ratio of 0.72 and a beta of 1.13. The business’s fifty day moving average is $37.20 and its 200-day moving average is $35.32.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were paid a $0.2125 dividend. The ex-dividend date was Monday, March 14th. This is a boost from Huntsman’s previous quarterly dividend of $0.19. This represents a $0.85 dividend on an annualized basis and a yield of 2.52%. Huntsman’s dividend payout ratio (DPR) is presently 17.93%.

Several institutional investors have recently made changes to their positions in HUN. JustInvest LLC lifted its stake in Huntsman by 9.9% in the fourth quarter. JustInvest LLC now owns 14,055 shares of the basic materials company’s stock valued at $490,000 after buying an additional 1,265 shares during the period. BlackRock Inc. increased its stake in shares of Huntsman by 0.3% in the 4th quarter. BlackRock Inc. now owns 12,625,053 shares of the basic materials company’s stock valued at $440,362,000 after acquiring an additional 40,163 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Huntsman by 7.2% in the 4th quarter. William Blair Investment Management LLC now owns 15,169 shares of the basic materials company’s stock valued at $529,000 after acquiring an additional 1,019 shares during the period. Forum Financial Management LP bought a new position in Huntsman during the 4th quarter worth approximately $225,000. Finally, Parametric Portfolio Associates LLC grew its holdings in Huntsman by 1.0% during the fourth quarter. Parametric Portfolio Associates LLC now owns 1,804,292 shares of the basic materials company’s stock valued at $62,934,000 after purchasing an additional 17,669 shares during the period. 84.65% of the stock is owned by institutional investors and hedge funds.

Huntsman announced that its Board of Directors has approved a stock repurchase plan on Monday, March 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 24.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

A number of brokerages recently issued reports on HUN. Royal Bank of Canada increased their target price on shares of Huntsman from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 16th. Jefferies Financial Group lifted their target price on shares of Huntsman from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, February 16th. StockNews.com upgraded Huntsman from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 14th. Morgan Stanley raised their target price on Huntsman from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 11th. Finally, Bank of America assumed coverage on shares of Huntsman in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $47.64.

About Huntsman (Get Rating)

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through 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.

Further Reading

Earnings History for Huntsman (NYSE:HUN)

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