FY2024 EPS Estimates for Huntsman Lowered by Seaport Res Ptn

Huntsman Co. (NYSE:HUN) – Analysts at Seaport Res Ptn lowered their FY2024 earnings per share estimates for Huntsman in a note issued to investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $0.06 for the year, down from their previous forecast of $0.08. The consensus estimate for Huntsman’s current full-year earnings is $0.08 per share.

Several other research firms have also recently commented on HUN. Citigroup reduced their price target on Huntsman from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Morgan Stanley reduced their target price on Huntsman from $24.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Mizuho lowered their price target on shares of Huntsman from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Alembic Global Advisors cut shares of Huntsman from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 15th. Finally, UBS Group decreased their price objective on shares of Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. One investment analyst has 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 data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.33.

Huntsman Price Performance

Shares of NYSE:HUN opened at $17.50 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $18.49 and a 200 day moving average price of $20.97. Huntsman has a 52 week low of $15.95 and a 52 week high of $27.01. The company has a market cap of $3.03 billion, a P/E ratio of -25.37 and a beta of 0.97.

Huntsman (NYSE:HUN) last released its earnings results on Monday, November 4th. The basic materials company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was up 2.3% on a year-over-year basis.

Institutional Trading of Huntsman

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUN. Matrix Trust Co acquired a new stake in shares of Huntsman during the 3rd quarter worth about $25,000. R Squared Ltd purchased a new position in shares of Huntsman during the fourth quarter valued at approximately $40,000. True Wealth Design LLC acquired a new stake in Huntsman during the third quarter worth approximately $62,000. Capital Performance Advisors LLP purchased a new stake in Huntsman in the 3rd quarter worth approximately $78,000. Finally, Quarry LP raised its holdings in Huntsman by 64.8% in the 2nd quarter. Quarry LP now owns 3,664 shares of the basic materials company’s stock valued at $83,000 after acquiring an additional 1,441 shares during the last quarter. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Insider Activity

In other news, Director Mary C. Beckerle sold 20,201 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $21.42, for a total value of $432,705.42. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 5.60% of the company’s stock.

Huntsman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.25 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 5.71%. Huntsman’s dividend payout ratio is presently -144.93%.

Huntsman Company Profile

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.