Jefferies Financial Group Brokers Reduce Earnings Estimates for Huntsman Co. (NYSE:HUN)

Huntsman Co. (NYSE:HUN – Get Rating) – Analysts at Jefferies Financial Group decreased their FY2023 earnings per share estimates for shares of Huntsman in a report issued on Monday, March 13th. Jefferies Financial Group analyst L. Alexander now expects that the basic materials company will post earnings of $1.60 per share for the year, down from their prior forecast of $2.55. The consensus estimate for Huntsman’s current full-year earnings is $1.96 per share. Jefferies Financial Group also issued estimates for Huntsman’s FY2024 earnings at $1.45 EPS and FY2025 earnings at $2.90 EPS.

Several other equities research analysts have also recently commented on HUN. Wells Fargo & Company increased their price target on Huntsman from $28.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Huntsman from $33.00 to $31.00 in a research report on Wednesday, February 22nd. Credit Suisse Group lifted their price target on Huntsman from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, December 9th. The Goldman Sachs Group lifted their price target on Huntsman from $25.00 to $28.00 and gave the stock a “sell” rating in a report on Thursday, December 15th. Finally, Vertical Research cut Huntsman from a “buy” rating to a “hold” rating in a research report on Wednesday, February 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.67.

Huntsman Stock Down 1.8 %

Shares of HUN opened at $27.28 on Wednesday. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.42 and a beta of 1.15. The stock’s 50-day moving average price is $30.50 and its 200-day moving average price is $28.20. The company has a quick ratio of 1.26, a current ratio of 1.85 and a debt-to-equity ratio of 0.44. Huntsman has a 52 week low of $23.53 and a 52 week high of $40.62.

Huntsman (NYSE:HUN – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Huntsman had a net margin of 5.47% and a return on equity of 16.03%. Huntsman’s revenue was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS.

Hedge Funds Weigh In On Huntsman

A number of institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC increased its stake in Huntsman by 170.6% in the second quarter. Lazard Asset Management LLC now owns 165,741 shares of the basic materials company’s stock valued at $4,698,000 after purchasing an additional 104,493 shares in the last quarter. Twelve Points Wealth Management LLC boosted its holdings in shares of Huntsman by 23.9% in the third quarter. Twelve Points Wealth Management LLC now owns 33,084 shares of the basic materials company’s stock valued at $812,000 after buying an additional 6,392 shares during the period. Rhumbline Advisers boosted its holdings in Huntsman by 22.0% during the second quarter. Rhumbline Advisers now owns 206,002 shares of the basic materials company’s stock worth $5,840,000 after purchasing an additional 37,200 shares during the last quarter. Redwood Investment Management LLC boosted its holdings in Huntsman by 18.4% during the third quarter. Redwood Investment Management LLC now owns 51,334 shares of the basic materials company’s stock worth $1,260,000 after purchasing an additional 7,988 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Huntsman during the second quarter worth $232,000. 87.57% of the stock is owned by institutional investors.

Huntsman Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a $0.2375 dividend. The ex-dividend date is Tuesday, March 14th. This is a positive change from Huntsman’s previous quarterly dividend of $0.21. This represents a $0.95 dividend on an annualized basis and a yield of 3.48%. Huntsman’s payout ratio is 39.35%.

About Huntsman

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Huntsman Corp. engages in the manufacturing of differentiated organic chemical products. It operates through the following segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment manufactures and markets polyurethane chemicals, including MDI products, PO, polyols, PG, TPU, aniline, and MTBE.