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

Huntsman Co. (NYSE:HUN) – Analysts at Seaport Res Ptn cut their Q2 2024 earnings per share estimates for Huntsman in a research note issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $0.14 per share for the quarter, down from their prior 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.

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

Huntsman Price Performance

HUN stock opened at $23.73 on Thursday. Huntsman has a 12-month low of $22.14 and a 12-month high of $29.90. The stock has a 50-day moving average price of $25.20 and a two-hundred day moving average price of $24.62. The company has a current ratio of 1.97, a quick ratio of 1.23 and a debt-to-equity ratio of 0.48. The company has a market cap of $4.10 billion, a PE ratio of 44.76 and a beta of 1.12.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Huntsman by 1,864.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,205,196 shares of the basic materials company’s stock worth $55,418,000 after purchasing an additional 2,092,948 shares during the last quarter. Invesco Ltd. increased its position in Huntsman by 69.8% in the 1st quarter. Invesco Ltd. now owns 4,556,712 shares of the basic materials company’s stock valued at $170,921,000 after acquiring an additional 1,873,388 shares during the period. Norges Bank acquired a new stake in Huntsman in the 4th quarter valued at approximately $43,761,000. Victory Capital Management Inc. increased its position in Huntsman by 6,496.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,457,882 shares of the basic materials company’s stock valued at $36,637,000 after acquiring an additional 1,435,782 shares during the period. Finally, Wellington Management Group LLP increased its position in Huntsman by 75.9% in the 4th quarter. Wellington Management Group LLP now owns 3,151,535 shares of the basic materials company’s stock valued at $79,198,000 after acquiring an additional 1,359,437 shares during the period. Institutional investors own 84.81% of the company’s stock.

Huntsman Increases Dividend

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

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.