Huntsman (NYSE:HUN) Price Target Cut to $12.00 by Analysts at Royal Bank of Canada

Huntsman (NYSE:HUN) had its price target decreased by Royal Bank of Canada from $15.00 to $12.00 in a research report released on Monday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the basic materials company’s stock.

Several other brokerages also recently weighed in on HUN. Alembic Global Advisors downgraded shares of Huntsman from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 15th. Citigroup lowered their target price on shares of Huntsman from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $13.00 price target (down previously from $17.00) on shares of Huntsman in a research note on Monday. JPMorgan Chase & Co. dropped their price objective on Huntsman from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Morgan Stanley cut their target price on Huntsman from $20.00 to $13.50 and set an “equal weight” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.61.

Huntsman Stock Down 4.1 %

HUN opened at $11.62 on Monday. Huntsman has a 1-year low of $11.60 and a 1-year high of $25.78. The firm’s 50 day simple moving average is $14.89 and its two-hundred day simple moving average is $17.40. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $2.02 billion, a PE ratio of -10.56 and a beta of 0.85.

Huntsman (NYSE:HUN) last released its earnings results on Thursday, May 1st. The basic materials company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.51 billion. Huntsman had a negative return on equity of 0.39% and a negative net margin of 3.13%. Huntsman’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. As a group, equities analysts forecast that Huntsman will post 0.32 EPS for the current year.

Huntsman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.61%. The ex-dividend date of this dividend is Friday, June 13th. Huntsman’s dividend payout ratio (DPR) is presently -90.91%.

Hedge Funds Weigh In On Huntsman

Several institutional investors have recently bought and sold shares of the business. Allianz Asset Management GmbH raised its position in shares of Huntsman by 48.4% during the 1st quarter. Allianz Asset Management GmbH now owns 560,286 shares of the basic materials company’s stock valued at $8,847,000 after buying an additional 182,803 shares in the last quarter. AMG National Trust Bank increased its stake in Huntsman by 167.4% during the first quarter. AMG National Trust Bank now owns 107,925 shares of the basic materials company’s stock worth $1,704,000 after acquiring an additional 67,568 shares during the last quarter. Pzena Investment Management LLC raised its position in Huntsman by 3.5% during the first quarter. Pzena Investment Management LLC now owns 4,859,007 shares of the basic materials company’s stock valued at $76,724,000 after purchasing an additional 163,329 shares during the period. Parcion Private Wealth LLC bought a new stake in shares of Huntsman in the 1st quarter valued at approximately $213,000. Finally, CWM LLC boosted its holdings in shares of Huntsman by 1,508.3% in the 1st quarter. CWM LLC now owns 249,450 shares of the basic materials company’s stock worth $3,939,000 after purchasing an additional 233,940 shares during the period. Institutional investors own 84.81% of the company’s stock.

Huntsman Company Profile

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products.