Seaport Res Ptn Comments on Huntsman Co.’s Q3 2022 Earnings (NYSE:HUN)

Huntsman Co. (NYSE:HUNGet Rating) – Research analysts at Seaport Res Ptn cut their Q3 2022 earnings per share (EPS) estimates for Huntsman in a report released on Friday, September 16th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings of $0.71 per share for the quarter, down from their prior estimate of $0.88. The consensus estimate for Huntsman’s current full-year earnings is $4.29 per share. Seaport Res Ptn also issued estimates for Huntsman’s FY2022 earnings at $3.84 EPS.

A number of other research firms have also recently weighed in on HUN. UBS Group cut Huntsman from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Wednesday, August 3rd. Credit Suisse Group began coverage on Huntsman in a report on Monday, September 12th. They issued an “outperform” rating and a $33.00 price target for the company. StockNews.com lowered Huntsman from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 15th. Bank of America lowered Huntsman from a “buy” rating to an “underperform” rating and dropped their target price for the company from $45.00 to $34.00 in a research note on Tuesday, June 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Huntsman from $40.00 to $35.00 in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Huntsman Stock Performance

NYSE HUN opened at $25.68 on Monday. Huntsman has a fifty-two week low of $24.87 and a fifty-two week high of $41.65. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 4.42, a price-to-earnings-growth ratio of 1.03 and a beta of 1.15. The business has a fifty day moving average of $28.76 and a 200-day moving average of $32.44. The company has a quick ratio of 1.26, a current ratio of 2.12 and a debt-to-equity ratio of 0.35.

Huntsman (NYSE:HUNGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year.

Institutional Investors Weigh In On Huntsman

Several institutional investors and hedge funds have recently modified their holdings of HUN. HighTower Advisors LLC boosted its holdings in Huntsman by 8.8% in the fourth quarter. HighTower Advisors LLC now owns 9,428 shares of the basic materials company’s stock valued at $326,000 after purchasing an additional 760 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Huntsman by 4.4% in the fourth quarter. JPMorgan Chase & Co. now owns 332,361 shares of the basic materials company’s stock valued at $11,592,000 after purchasing an additional 14,101 shares during the last quarter. Rhumbline Advisers boosted its holdings in Huntsman by 0.9% in the fourth quarter. Rhumbline Advisers now owns 190,950 shares of the basic materials company’s stock valued at $6,660,000 after purchasing an additional 1,632 shares during the last quarter. MAI Capital Management purchased a new position in Huntsman in the fourth quarter valued at about $360,000. Finally, Ensign Peak Advisors Inc purchased a new position in Huntsman in the fourth quarter valued at about $1,037,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other news, Director Curtis E. Espeland purchased 15,000 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was bought at an average cost of $30.18 per share, for a total transaction of $452,700.00. Following the completion of the purchase, the director now directly owns 18,533 shares of the company’s stock, valued at approximately $559,325.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP David M. Stryker bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was bought at an average price of $29.90 per share, with a total value of $299,000.00. Following the completion of the transaction, the vice president now directly owns 341,614 shares of the company’s stock, valued at $10,214,258.60. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Curtis E. Espeland bought 15,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was bought at an average cost of $30.18 per share, with a total value of $452,700.00. Following the transaction, the director now directly owns 18,533 shares of the company’s stock, valued at $559,325.94. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.

Huntsman Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.2125 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.85 annualized dividend and a yield of 3.31%. Huntsman’s dividend payout ratio is presently 14.63%.

About Huntsman

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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.

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Earnings History and Estimates for Huntsman (NYSE:HUN)

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