Huntsman Co. (NYSE:HUN) Expected to Announce Quarterly Sales of $2.31 Billion

Equities research analysts expect Huntsman Co. (NYSE:HUN) to announce sales of $2.31 billion for the current quarter, Zacks reports. Three analysts have provided estimates for Huntsman’s earnings, with the lowest sales estimate coming in at $2.23 billion and the highest estimate coming in at $2.39 billion. Huntsman reported sales of $2.40 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.8%. The firm is scheduled to announce its next earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Huntsman will report full year sales of $9.14 billion for the current fiscal year, with estimates ranging from $8.73 billion to $9.51 billion. For the next financial year, analysts anticipate that the business will report sales of $9.65 billion, with estimates ranging from $9.06 billion to $10.19 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Huntsman.

Huntsman (NYSE:HUN) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Huntsman had a return on equity of 19.90% and a net margin of 2.00%. The company’s revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS.

HUN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Huntsman from an “overweight” rating to a “neutral” rating and set a $24.00 price target for the company. in a report on Wednesday, February 13th. ValuEngine upgraded Huntsman from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. Royal Bank of Canada lowered their price target on Huntsman from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th. Barclays set a $21.00 price target on Huntsman and gave the stock a “sell” rating in a report on Tuesday, March 19th. Finally, KeyCorp lowered their price target on Huntsman from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $28.85.

In other news, insider Scott J. Wright bought 4,950 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $20.22 per share, with a total value of $100,089.00. Following the purchase, the insider now owns 33,922 shares in the company, valued at $685,902.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David M. Stryker bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $19.01 per share, for a total transaction of $38,020.00. Following the purchase, the vice president now owns 179,930 shares in the company, valued at approximately $3,420,469.30. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 7,950 shares of company stock worth $157,729. 5.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Coastal Investment Advisors Inc. acquired a new position in Huntsman during the 1st quarter worth about $28,000. Icon Wealth Partners LLC acquired a new position in Huntsman during the 1st quarter worth about $28,000. Lindbrook Capital LLC acquired a new position in Huntsman during the 4th quarter worth about $26,000. Oppenheimer Asset Management Inc. acquired a new position in Huntsman during the 4th quarter worth about $27,000. Finally, Meridian Wealth Management LLC acquired a new position in Huntsman during the 1st quarter worth about $37,000. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

NYSE HUN opened at $18.81 on Thursday. The firm has a market cap of $4.39 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 0.80 and a beta of 2.27. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.11. Huntsman has a twelve month low of $17.33 and a twelve month high of $33.55.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a yield of 3.46%. The ex-dividend date is Thursday, June 13th. Huntsman’s payout ratio is 19.46%.

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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