Scotiabank Comments on Huntsman Co.’s Q3 2022 Earnings (NYSE:HUN)

Posted by James Conley on Aug 6th, 2022

Huntsman Co. (NYSE:HUN – Get Rating) – Research analysts at Scotiabank boosted their Q3 2022 earnings per share estimates for shares of Huntsman in a report issued on Tuesday, August 2nd. Scotiabank analyst B. Isaacson now forecasts that the basic materials company will post earnings per share of $1.03 for the quarter, up from their previous forecast of $0.97. The consensus estimate for Huntsman’s current full-year earnings is $4.45 per share. Scotiabank also issued estimates for Huntsman’s FY2022 earnings at $4.42 EPS and FY2023 earnings at $3.97 EPS.

Huntsman (NYSE:HUN – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.14. Huntsman had a return on equity of 22.23% and a net margin of 13.45%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis.

Several other equities research analysts have also weighed in on HUN. Wells Fargo & Company decreased their price objective on Huntsman from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, June 22nd. UBS Group lowered Huntsman from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on Huntsman from $40.00 to $35.00 in a report on Wednesday. Citigroup reduced their target price on Huntsman from $35.00 to $34.00 in a report on Thursday. Finally, Bank of America lowered Huntsman from a “buy” rating to an “underperform” rating and reduced their target price for the company from $45.00 to $34.00 in a report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.77.

Huntsman Trading Up 1.1 %

Shares of HUN opened at $28.92 on Thursday. The business has a 50-day moving average of $30.29 and a 200 day moving average of $34.43. Huntsman has a fifty-two week low of $24.09 and a fifty-two week high of $41.65. The firm has a market cap of $6.07 billion, a P/E ratio of 4.98, a price-to-earnings-growth ratio of 1.21 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.23 and a current ratio of 2.12.

Huntsman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.94%. Huntsman’s payout ratio is 14.63%.

Institutional Trading of Huntsman

Hedge funds have recently bought and sold shares of the company. CWM LLC bought a new stake in Huntsman in the 4th quarter worth approximately $27,000. Ellevest Inc. lifted its position in Huntsman by 369.0% in the first quarter. Ellevest Inc. now owns 802 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 631 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in Huntsman in the first quarter valued at approximately $30,000. Orion Capital Management LLC bought a new stake in Huntsman in the fourth quarter valued at approximately $35,000. Finally, Capital Advisors Ltd. LLC bought a new stake in Huntsman in the fourth quarter valued at approximately $38,000. Institutional investors own 84.02% of the company’s stock.

About Huntsman

(Get Rating)

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.