Seaport Res Ptn Weighs in on Huntsman FY2024 Earnings

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

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

Several other equities analysts have also weighed in on HUN. Morgan Stanley reduced their target price on shares of Huntsman from $24.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. UBS Group reduced their price objective on Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Alembic Global Advisors lowered Huntsman from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 15th. Mizuho dropped their target price on Huntsman from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada decreased their price target on Huntsman from $23.00 to $20.00 and set a “sector perform” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.33.

Huntsman Trading Down 2.3 %

Shares of HUN stock opened at $17.50 on Thursday. Huntsman has a fifty-two week low of $15.95 and a fifty-two week high of $27.01. The firm’s 50 day moving average price is $18.49 and its two-hundred day moving average price is $20.97. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -25.37 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.45.

Huntsman Announces Dividend

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

Insider Activity

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

Institutional Investors Weigh In On Huntsman

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Huntsman by 5.2% in the second quarter. Envestnet Asset Management Inc. now owns 91,304 shares of the basic materials company’s stock worth $2,079,000 after purchasing an additional 4,521 shares in the last quarter. Sei Investments Co. grew its position in shares of Huntsman by 25.3% in the 2nd quarter. Sei Investments Co. now owns 416,909 shares of the basic materials company’s stock worth $9,493,000 after acquiring an additional 84,273 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Huntsman by 21.4% in the 2nd quarter. Bank of Montreal Can now owns 39,333 shares of the basic materials company’s stock valued at $901,000 after acquiring an additional 6,930 shares during the last quarter. Marshall Wace LLP raised its position in shares of Huntsman by 45.0% during the 2nd quarter. Marshall Wace LLP now owns 1,213,629 shares of the basic materials company’s stock valued at $27,634,000 after acquiring an additional 376,423 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Huntsman by 383.0% during the second quarter. AQR Capital Management LLC now owns 1,417,641 shares of the basic materials company’s stock worth $32,138,000 after purchasing an additional 1,124,113 shares during the last quarter. Institutional investors own 84.81% of the company’s stock.

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.