Huntsman Co. (NYSE:HUN) to Post Q3 2022 Earnings of $1.06 Per Share, KeyCorp Forecasts

Huntsman Co. (NYSE:HUN – Get Rating) – Analysts at KeyCorp increased their Q3 2022 EPS estimates for shares of Huntsman in a research report issued on Tuesday, August 2nd. KeyCorp analyst A. Yefremov now forecasts that the basic materials company will post earnings per share of $1.06 for the quarter, up from their previous forecast of $0.97. The consensus estimate for Huntsman’s current full-year earnings is $4.45 per share. KeyCorp also issued estimates for Huntsman’s FY2022 earnings at $4.47 EPS and FY2023 earnings at $3.95 EPS.

Huntsman (NYSE:HUN – Get Rating) last issued its earnings results on Tuesday, August 2nd. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.14. Huntsman had a net margin of 13.45% and a return on equity of 22.23%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $0.86 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis.

Several other brokerages have also recently issued reports on HUN. Citigroup dropped their target price on shares of Huntsman from $35.00 to $34.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Huntsman from $40.00 to $35.00 in a report on Wednesday. StockNews.com cut shares of Huntsman from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 15th. Bank of America cut shares of Huntsman from a “buy” rating to an “underperform” rating and lowered their price target for the company from $45.00 to $34.00 in a report on Tuesday, June 14th. Finally, UBS Group cut shares of Huntsman from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Huntsman presently has an average rating of “Moderate Buy” and an average price target of $43.77.

Huntsman Stock Up 1.1 %

Shares of Huntsman stock opened at $28.92 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.12 and a quick ratio of 1.23. Huntsman has a 1 year low of $24.09 and a 1 year high of $41.65. The firm’s 50-day moving average is $30.29 and its two-hundred day moving average is $34.43. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 4.98, a PEG ratio of 1.21 and a beta of 1.16.

Hedge Funds Weigh In On Huntsman

A number of institutional investors have recently bought and sold shares of the business. M&T Bank Corp raised its position in Huntsman by 28.0% during the 2nd quarter. M&T Bank Corp now owns 42,526 shares of the basic materials company’s stock worth $1,187,000 after buying an additional 9,304 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in shares of Huntsman by 9,337.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 28,312 shares of the basic materials company’s stock valued at $803,000 after purchasing an additional 28,012 shares in the last quarter. Bank of Nova Scotia purchased a new position in shares of Huntsman during the 2nd quarter valued at approximately $561,000. Wilen Investment Management CORP. increased its holdings in shares of Huntsman by 1.2% during the 2nd quarter. Wilen Investment Management CORP. now owns 262,446 shares of the basic materials company’s stock valued at $7,348,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Huntsman by 3,122.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 701,052 shares of the basic materials company’s stock valued at $19,875,000 after purchasing an additional 679,300 shares in the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Huntsman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.94%. Huntsman’s dividend payout ratio is presently 14.63%.

About Huntsman

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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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