Seaport Res Ptn Comments on Huntsman Co.’s Q2 2024 Earnings (NYSE:HUN)

Huntsman Co. (NYSE:HUN) – Research analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share estimates for shares of 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 previous estimate of $0.20. The consensus estimate for Huntsman’s current full-year earnings is $0.48 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.

HUN has been the subject of several other reports. Royal Bank of Canada raised 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. Wells Fargo & Company upgraded Huntsman from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $32.00 in a report on Friday, February 23rd. Stifel Nicolaus reduced 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. Finally, The Goldman Sachs Group raised their price target on shares of Huntsman from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Tuesday, March 5th. Two research 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.55.

Huntsman Stock Performance

Huntsman stock opened at $23.72 on Thursday. Huntsman has a 12-month low of $22.14 and a 12-month high of $29.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 1.23. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 44.75 and a beta of 1.12. The firm’s fifty day moving average price is $25.21 and its 200 day moving average price is $24.62.

Huntsman (NYSE:HUN) last posted its quarterly earnings data 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). The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Huntsman had a net margin of 1.65% and a return on equity of 1.92%. The company’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 EPS.

Institutional Investors Weigh In On Huntsman

Several institutional investors and hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. bought a new position in shares of Huntsman during the first quarter valued at approximately $30,000. Quadrant Capital Group LLC grew its stake in Huntsman by 93.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,081 shares of the basic materials company’s stock worth $27,000 after buying an additional 521 shares during the last quarter. GAMMA Investing LLC bought a new position in Huntsman during the 4th quarter worth $36,000. GeoWealth Management LLC acquired a new stake in Huntsman in the first quarter worth $49,000. Finally, Montag A & Associates Inc. bought a new stake in Huntsman in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

Huntsman Increases Dividend

The firm 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 dividend yield of 4.22%. This is a boost from Huntsman’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, March 14th. Huntsman’s dividend payout ratio is 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.