Huntsman Corporation Announces Quarterly Dividend of $0.09 (NYSE:HUN)

Huntsman Corporation (NYSE:HUN) declared a quarterly dividend on Tuesday, February 17th. Stockholders of record on Friday, March 13th will be given a dividend of 0.0875 per share by the basic materials company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th.

Huntsman has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Huntsman has a dividend payout ratio of 134.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Huntsman to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 43.2%.

Huntsman Trading Up 10.2%

Shares of Huntsman stock traded up $1.26 during mid-day trading on Wednesday, hitting $13.61. The stock had a trading volume of 4,339,759 shares, compared to its average volume of 5,889,218. The firm has a 50-day moving average of $11.41 and a two-hundred day moving average of $10.16. The firm has a market cap of $2.36 billion, a P/E ratio of -7.13 and a beta of 0.70. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.54. Huntsman has a 12-month low of $7.30 and a 12-month high of $18.53.

Huntsman (NYSE:HUN) last released its quarterly earnings results on Tuesday, February 17th. The basic materials company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.08). Huntsman had a negative net margin of 5.69% and a negative return on equity of 3.26%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm posted ($0.25) earnings per share. Huntsman’s revenue was down 6.7% on a year-over-year basis. Sell-side analysts forecast that Huntsman will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HUN. Alembic Global Advisors set a $11.00 price target on shares of Huntsman in a research report on Monday, October 27th. Zacks Research raised Huntsman from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Royal Bank Of Canada lifted their price target on Huntsman from $10.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Friday, January 16th. The Goldman Sachs Group increased their price objective on Huntsman from $8.50 to $9.50 and gave the company a “sell” rating in a report on Thursday, December 4th. Finally, Citigroup raised their target price on shares of Huntsman from $10.50 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $11.09.

Huntsman Company Profile

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.