Seaport Res Ptn Comments on Huntsman Co.’s FY2023 Earnings (NYSE:HUN)

Huntsman Co. (NYSE:HUN) – Investment analysts at Seaport Res Ptn dropped their FY2023 earnings per share (EPS) estimates for shares of Huntsman in a report released on Monday, November 6th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings per share of $0.53 for the year, down from their previous estimate of $0.69. The consensus estimate for Huntsman’s current full-year earnings is $0.59 per share. Seaport Res Ptn also issued estimates for Huntsman’s Q1 2024 earnings at $0.17 EPS, Q2 2024 earnings at $0.43 EPS, Q3 2024 earnings at $0.42 EPS and FY2025 earnings at $2.16 EPS.

Huntsman (NYSE:HUN) last announced its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Huntsman had a net margin of 1.27% and a return on equity of 2.90%. The firm’s revenue was down 25.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share.

HUN has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their target price on Huntsman from $25.00 to $22.00 and set an “underweight” rating on the stock in a research report on Thursday, November 2nd. Citigroup dropped their price objective on Huntsman from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, September 21st. StockNews.com started coverage on Huntsman in a research report on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet lowered shares of Huntsman from a “b-” rating to a “c+” rating in a report on Monday, September 11th. Finally, Mizuho decreased their price objective on shares of Huntsman from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.27.

Huntsman Stock Up 1.3 %

HUN stock opened at $24.06 on Wednesday. Huntsman has a one year low of $22.14 and a one year high of $33.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.14 and a current ratio of 1.88. The firm’s fifty day moving average is $24.35 and its 200 day moving average is $25.89. The firm has a market cap of $4.19 billion, a PE ratio of 52.30 and a beta of 1.13.

Huntsman Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.2375 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.95%. Huntsman’s dividend payout ratio is currently 206.52%.

Institutional Investors Weigh In On Huntsman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HUN. McIlrath & Eck LLC raised its position in Huntsman by 84.3% in the first quarter. McIlrath & Eck LLC now owns 901 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 412 shares during the period. Quintet Private Bank Europe S.A. purchased a new stake in Huntsman during the first quarter worth about $27,000. Caldwell Sutter Capital Inc. acquired a new stake in shares of Huntsman during the second quarter worth about $27,000. Brown Brothers Harriman & Co. purchased a new position in shares of Huntsman in the first quarter valued at approximately $30,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Huntsman by 143.5% in the first quarter. Parkside Financial Bank & Trust now owns 1,288 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 759 shares in the last quarter. Hedge funds and other institutional investors own 83.44% of the company’s stock.

About Huntsman

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates through 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.