Huntsman Corporation (HUN) Sets New 12-Month High on Earnings Beat
Huntsman Corporation (NYSE:HUN)’s share price reached a new 52-week high during trading on Monday following a stronger than expected earnings report. The company traded as high as $31.88 and last traded at $31.90, with a volume of 6,245,577 shares traded. The stock had previously closed at $31.06.
The basic materials company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.17. Huntsman Corporation had a return on equity of 34.90% and a net margin of 5.37%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis.
A number of analysts have weighed in on HUN shares. ValuEngine raised Huntsman Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. KeyCorp reissued a “buy” rating and set a $34.00 target price on shares of Huntsman Corporation in a research note on Friday, September 1st. Zacks Investment Research raised Huntsman Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, October 11th. Nomura increased their target price on Huntsman Corporation from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $29.00 target price on shares of Huntsman Corporation in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $31.55.
Hedge funds have recently modified their holdings of the company. DSAM Partners London Ltd purchased a new position in Huntsman Corporation in the 2nd quarter valued at approximately $2,128,000. Chicago Equity Partners LLC increased its stake in Huntsman Corporation by 1,462.7% in the 2nd quarter. Chicago Equity Partners LLC now owns 443,035 shares of the basic materials company’s stock valued at $11,448,000 after purchasing an additional 414,685 shares in the last quarter. CIBC World Markets Inc. increased its stake in Huntsman Corporation by 133.4% in the 2nd quarter. CIBC World Markets Inc. now owns 708,530 shares of the basic materials company’s stock valued at $18,308,000 after purchasing an additional 404,905 shares in the last quarter. Royal Bank of Canada increased its stake in Huntsman Corporation by 58.6% in the 2nd quarter. Royal Bank of Canada now owns 398,112 shares of the basic materials company’s stock valued at $10,287,000 after purchasing an additional 147,090 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Huntsman Corporation by 0.6% in the 1st quarter. New York State Teachers Retirement System now owns 17,600 shares of the basic materials company’s stock valued at $432,000 after purchasing an additional 100 shares in the last quarter. 75.00% of the stock is owned by institutional investors and hedge funds.
The firm’s 50-day moving average is $28.39 and its 200-day moving average is $26.30. The stock has a market capitalization of $7.69 billion, a PE ratio of 18.15 and a beta of 2.79.
Huntsman Corporation 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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