Q2 2024 EPS Estimates for Huntsman Co. (NYSE:HUN) Lowered by Seaport Res Ptn

Huntsman Co. (NYSE:HUN) – Stock analysts at Seaport Res Ptn reduced their Q2 2024 EPS estimates for shares of Huntsman in a research report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings of $0.14 per share for the quarter, down from their previous estimate of $0.20. The consensus estimate for Huntsman’s current full-year earnings is $0.47 per share. Seaport Res Ptn also issued estimates for Huntsman’s Q3 2024 earnings at $0.23 EPS, FY2024 earnings at $0.45 EPS and FY2025 earnings at $1.77 EPS.

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

A number of other analysts have also recently commented on HUN. Wells Fargo & Company upgraded shares of Huntsman from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $25.00 to $32.00 in a research report on Friday, February 23rd. Stifel Nicolaus lowered their price objective on shares of Huntsman from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. The Goldman Sachs Group upped their target price on shares of Huntsman from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Tuesday, March 5th. Finally, Royal Bank of Canada upped their target price on shares of Huntsman from $20.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Huntsman currently has a consensus rating of “Hold” and a consensus target price of $26.55.

Huntsman Stock Performance

Shares of Huntsman stock opened at $23.73 on Thursday. The firm has a fifty day moving average of $25.20 and a two-hundred day moving average of $24.62. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 44.76 and a beta of 1.12. Huntsman has a 52 week low of $22.14 and a 52 week high of $29.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.23 and a current ratio of 1.97.

Institutional Investors Weigh In On Huntsman

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Huntsman by 101.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,792,098 shares of the basic materials company’s stock valued at $43,727,000 after purchasing an additional 904,696 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in Huntsman by 115.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 105,627 shares of the basic materials company’s stock valued at $2,577,000 after acquiring an additional 56,598 shares during the period. Strengthening Families & Communities LLC raised its holdings in Huntsman by 6.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 73,275 shares of the basic materials company’s stock valued at $1,788,000 after acquiring an additional 4,406 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Huntsman in the 3rd quarter valued at about $2,889,000. Finally, Qube Research & Technologies Ltd bought a new position in Huntsman in the 3rd quarter valued at about $4,268,000. 84.81% of the stock is currently owned by institutional investors and hedge funds.

Huntsman Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.25 dividend. This is an increase from Huntsman’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.21%. The ex-dividend date was Thursday, March 14th. Huntsman’s dividend payout ratio (DPR) is 188.68%.

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.