KeyCorp Equities Analysts Decrease Earnings Estimates for Huntsman Co. (NYSE:HUN)

Posted by on Apr 13th, 2023

Huntsman Co. (NYSE:HUN – Get Rating) – Investment analysts at KeyCorp lowered their Q2 2023 earnings per share estimates for shares of Huntsman in a research report issued on Monday, April 10th. KeyCorp analyst A. Yefremov now expects that the basic materials company will earn $0.34 per share for the quarter, down from their previous estimate of $0.35. The consensus estimate for Huntsman’s current full-year earnings is $1.85 per share. KeyCorp also issued estimates for Huntsman’s Q3 2023 earnings at $0.49 EPS, Q4 2023 earnings at $0.56 EPS and FY2023 earnings at $1.51 EPS.

Several other analysts have also recently issued reports on HUN. Royal Bank of Canada reduced their price objective on Huntsman from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 23rd. UBS Group increased their price target on Huntsman from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, January 11th. Mizuho initiated coverage on Huntsman in a research report on Wednesday. They set a “neutral” rating and a $27.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Huntsman from $33.00 to $31.00 in a report on Wednesday, February 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Huntsman from $28.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 22nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.58.

Huntsman Price Performance

Huntsman stock opened at $26.82 on Wednesday. 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 $37.13. The firm has a market cap of $4.93 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 2.45 and a beta of 1.13. The company’s 50 day moving average is $28.82 and its two-hundred day moving average is $28.27.

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

Huntsman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were paid a $0.2375 dividend. This represents a $0.95 annualized dividend and a yield of 3.54%. The ex-dividend date was Tuesday, March 14th. This is an increase from Huntsman’s previous quarterly dividend of $0.21. Huntsman’s dividend payout ratio is currently 43.98%.

Institutional Trading of Huntsman

Large investors have recently made changes to their positions in the company. Byrne Asset Management LLC purchased a new stake in Huntsman in the third quarter valued at approximately $26,000. Exchange Traded Concepts LLC acquired a new position in shares of Huntsman in the 4th quarter valued at $27,000. Brown Brothers Harriman & Co. purchased a new stake in Huntsman in the 1st quarter valued at $30,000. CoreCap Advisors LLC purchased a new position in Huntsman during the 4th quarter worth $32,000. Finally, Wipfli Financial Advisors LLC acquired a new position in Huntsman in the third quarter valued at $34,000. 87.57% of the stock is owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Huntsman (NYSE:HUN)

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