Huntsman (NYSE:HUN) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Huntsman (NYSE:HUN) issued its earnings results on Thursday. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10, Zacks reports. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. Huntsman’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share.

Huntsman Stock Performance

HUN opened at $7.42 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. Huntsman has a fifty-two week low of $7.30 and a fifty-two week high of $21.40. The firm has a market cap of $1.29 billion, a PE ratio of -3.81 and a beta of 0.68. The business has a fifty day simple moving average of $9.36 and a 200-day simple moving average of $10.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HUN. EverSource Wealth Advisors LLC boosted its position in Huntsman by 181.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,956 shares of the basic materials company’s stock worth $93,000 after acquiring an additional 5,779 shares during the period. CW Advisors LLC acquired a new position in Huntsman in the 2nd quarter worth about $133,000. Caxton Associates LLP acquired a new position in Huntsman in the second quarter worth approximately $148,000. Prudential Financial Inc. lifted its stake in Huntsman by 34.5% in the second quarter. Prudential Financial Inc. now owns 14,250 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 3,655 shares during the last quarter. Finally, State of Wyoming bought a new stake in Huntsman in the second quarter worth approximately $222,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HUN. Wells Fargo & Company cut their price target on Huntsman from $13.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 5th. Bank of America reiterated an “underperform” rating and issued a $8.00 price objective (down from $9.00) on shares of Huntsman in a research report on Tuesday, October 14th. The Goldman Sachs Group decreased their target price on shares of Huntsman from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Friday, October 17th. Citigroup cut their price target on Huntsman from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, October 2nd. Finally, Alembic Global Advisors set a $11.00 target price on Huntsman in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $10.91.

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.