Analysts Offer Predictions for Huntsman Co.’s Q1 2024 Earnings (NYSE:HUN)

Huntsman Co. (NYSE:HUN) – Equities researchers at Seaport Res Ptn dropped their Q1 2024 EPS estimates for shares of Huntsman in a note issued to investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will earn ($0.07) per share for the quarter, down from their prior forecast of ($0.06). The consensus estimate for Huntsman’s current full-year earnings is $0.47 per share. Seaport Res Ptn also issued estimates for Huntsman’s Q4 2024 earnings at $0.15 EPS.

Huntsman (NYSE:HUN) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). Huntsman had a return on equity of 1.92% and a net margin of 1.65%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the company posted $0.04 EPS. Huntsman’s revenue for the quarter was down 15.0% compared to the same quarter last year.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company raised Huntsman from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $25.00 to $32.00 in a research note on Friday, February 23rd. Stifel Nicolaus lowered their price objective on Huntsman from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. The Goldman Sachs Group boosted their price objective on shares of Huntsman from $25.00 to $28.00 and gave the company a “sell” rating in a report on Tuesday, March 5th. Finally, Royal Bank of Canada raised their target price on shares of Huntsman from $20.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. Two investment 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, Huntsman presently has an average rating of “Hold” and a consensus price target of $26.55.

Huntsman Stock Performance

Huntsman stock opened at $23.73 on Friday. The stock’s 50 day moving average is $25.20 and its 200 day moving average is $24.62. The company has a market capitalization of $4.10 billion, a P/E ratio of 44.76 and a beta of 1.12. Huntsman has a twelve month low of $22.14 and a twelve month high of $29.90. The company has a quick ratio of 1.23, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Huntsman Increases Dividend

The firm also recently declared 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. The ex-dividend date was Thursday, March 14th. This is a boost from Huntsman’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.21%. Huntsman’s dividend payout ratio (DPR) is currently 188.68%.

Hedge Funds Weigh In On Huntsman

A number of hedge funds have recently made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of Huntsman by 33.6% during the first quarter. American Century Companies Inc. now owns 27,472 shares of the basic materials company’s stock worth $1,030,000 after acquiring an additional 6,907 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Huntsman by 42.3% during the 1st quarter. HighTower Advisors LLC now owns 13,414 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 3,986 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of Huntsman during the first quarter valued at about $155,000. BlackRock Inc. increased its holdings in shares of Huntsman by 0.4% in the first quarter. BlackRock Inc. now owns 12,672,792 shares of the basic materials company’s stock worth $475,358,000 after purchasing an additional 47,739 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Huntsman by 9.0% in the first quarter. Great West Life Assurance Co. Can now owns 14,250 shares of the basic materials company’s stock worth $565,000 after buying an additional 1,173 shares in the last quarter. Institutional investors own 84.81% of the company’s stock.

About Huntsman

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.