Huntsman Corporation (HUN) to Issue Quarterly Dividend of $0.09 on September 30th

Huntsman Corporation (NYSE:HUN) declared a quarterly dividend on Wednesday, July 29th. Investors of record on Tuesday, September 15th will be paid a dividend of 0.0875 per share by the basic materials company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Huntsman has raised its dividend payment by an average of 0.1%annually 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. Analysts expect Huntsman to earn $0.08 per share next year, which means the company may not be able to cover its $0.35 annual dividend with an expected future payout ratio of 437.5%.

Huntsman Stock Down 19.2%

NYSE HUN traded down $2.32 during trading hours on Friday, reaching $9.75. 5,639,022 shares of the company’s stock were exchanged, compared to its average volume of 6,090,825. The company’s 50-day moving average is $12.75 and its two-hundred day moving average is $12.82. Huntsman has a one year low of $7.30 and a one year high of $16.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.75 and a current ratio of 1.27. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -5.11 and a beta of 0.69.

Huntsman (NYSE:HUN) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Huntsman had a negative net margin of 5.83% and a negative return on equity of 4.60%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. On average, analysts forecast that Huntsman will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

HUN has been the topic of a number of research analyst reports. Bank of America raised their price objective on shares of Huntsman from $10.00 to $11.00 and gave the stock an “underperform” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded Huntsman from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada lifted their price target on Huntsman from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, May 4th. Mizuho cut their price target on Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $15.00 price objective on shares of Huntsman in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.67.

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.