Seaport Res Ptn Analysts Cut Earnings Estimates for Huntsman Co. (NYSE:HUN)

Huntsman Co. (NYSE:HUN) – Equities researchers at Seaport Res Ptn cut their Q1 2024 EPS estimates for shares of Huntsman in a research note issued to investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will earn ($0.07) per share for the quarter, down from their previous forecast of ($0.06). The consensus estimate for Huntsman’s current full-year earnings is $0.47 per share. Seaport Res Ptn also issued estimates for Huntsman’s Q4 2024 earnings at $0.15 EPS.

Huntsman (NYSE:HUN) last released its earnings results on Thursday, February 22nd. The basic materials company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). Huntsman had a return on equity of 1.92% and a net margin of 1.65%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business posted $0.04 EPS. Huntsman’s revenue was down 15.0% on a year-over-year basis.

Other research analysts have also issued reports about the stock. Stifel Nicolaus dropped their price objective on shares of Huntsman from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Wells Fargo & Company upgraded Huntsman from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $25.00 to $32.00 in a research report on Friday, February 23rd. The Goldman Sachs Group lifted their target price on Huntsman from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada lifted their price objective on Huntsman from $20.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.55.

Huntsman Trading Up 0.2 %

Shares of HUN opened at $23.72 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 1.23. Huntsman has a 1 year low of $22.14 and a 1 year high of $29.90. The company has a 50 day simple moving average of $25.21 and a two-hundred day simple moving average of $24.62. The firm has a market cap of $4.10 billion, a P/E ratio of 44.75 and a beta of 1.12.

Huntsman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.22%. The ex-dividend date was Thursday, March 14th. This is a positive change from Huntsman’s previous quarterly dividend of $0.24. Huntsman’s payout ratio is 188.68%.

Hedge Funds Weigh In On Huntsman

Several institutional investors and hedge funds have recently added to or reduced their stakes in HUN. Quadrant Capital Group LLC grew its stake in shares of Huntsman by 93.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,081 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 521 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Huntsman in the first quarter valued at approximately $30,000. GAMMA Investing LLC purchased a new stake in Huntsman in the fourth quarter valued at approximately $36,000. Montag A & Associates Inc. purchased a new stake in Huntsman in the fourth quarter valued at approximately $45,000. Finally, GeoWealth Management LLC purchased a new stake in Huntsman in the first quarter valued at approximately $49,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.

About Huntsman

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.