Huntsman Co. (NYSE:HUN – Get Rating) – KeyCorp cut their Q4 2022 earnings per share estimates for Huntsman in a report issued on Tuesday, August 2nd. KeyCorp analyst A. Yefremov now expects that the basic materials company will post earnings of $0.94 per share for the quarter, down from their prior forecast of $1.10. The consensus estimate for Huntsman’s current full-year earnings is $4.42 per share.
A number of other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Huntsman from $40.00 to $35.00 in a research report on Wednesday. Wells Fargo & Company lowered their price target on Huntsman from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 22nd. StockNews.com downgraded Huntsman from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 15th. Citigroup lowered their price target on Huntsman from $35.00 to $34.00 in a research report on Thursday. Finally, Bank of America downgraded Huntsman from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $45.00 to $34.00 in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Huntsman has a consensus rating of “Moderate Buy” and an average target price of $43.77.
Huntsman Price Performance
Huntsman (NYSE:HUN – Get Rating) last released its earnings results on Tuesday, August 2nd. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.14. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.30 billion. Huntsman had a return on equity of 22.23% and a net margin of 13.45%. Huntsman’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share.
Huntsman Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.97%. Huntsman’s dividend payout ratio is presently 14.63%.
Institutional Investors Weigh In On Huntsman
A number of institutional investors have recently made changes to their positions in the company. Sigma Planning Corp boosted its stake in shares of Huntsman by 0.9% in the fourth quarter. Sigma Planning Corp now owns 33,796 shares of the basic materials company’s stock valued at $1,179,000 after buying an additional 288 shares during the period. CWM LLC boosted its stake in shares of Huntsman by 45.3% in the first quarter. CWM LLC now owns 1,136 shares of the basic materials company’s stock valued at $43,000 after buying an additional 354 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Huntsman by 4.0% in the fourth quarter. CIBC Asset Management Inc now owns 9,228 shares of the basic materials company’s stock valued at $322,000 after buying an additional 355 shares during the period. TCI Wealth Advisors Inc. boosted its stake in shares of Huntsman by 53.2% in the first quarter. TCI Wealth Advisors Inc. now owns 1,331 shares of the basic materials company’s stock valued at $50,000 after buying an additional 462 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Huntsman by 6.9% in the second quarter. Pinnacle Associates Ltd. now owns 7,700 shares of the basic materials company’s stock valued at $218,000 after buying an additional 500 shares during the period. Institutional investors own 84.02% of the company’s stock.
Huntsman Company Profile
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
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