On May 10, 2023, Huntsman (NYSE:HUN) released its report on earnings for the first quarter. The basic materials corporation claimed that they had gained $0.20 EPS in the course of the quarter, exceeding the consensus estimate of $0.16 by $0.04. The company’s net margin was measured to be 5.11%, and their return on equity was recorded at 11.11%. Meanwhile, the corporation earned a revenue of $1.61 billion during this period in contrast to analysts projecting its revenue to reach $1.67 billion.
Although their performance showed progress from previous times as HUN had been able to surpass estimates in earnings per share compared year-on-year, it still fell short with revenue as it decreased by 26.7%. When looking back at last year’s corresponding period, the company boasted an impressive $1.19 earnings per share – nearly six times greater than today.
In other news shared recently, Huntsman has decided to increase its quarterly dividend rate since stockholders noted record dates for March dividends paid on Friday, March 31st while shareholder holders linked with ex-dividend for Tuesday, March 14th were paid a dividend of $0.2375/share when it was declared late February this year – up from last September’s dividend rate of $0.21/share paying forward a yield of about three and a half percent increased from approximately three percent before.
The top researchers and market analysts have valued HUN at an opening price of $26.06 on Tuesday due to outstanding financial performance off-late placing them with an impressive market cap estimated around five billion dollars using computations according to recent trends showing a beta score of roughly one point twelve focusing entirely on basic materials with peaking degree growth ratios even amidst recent economic downturns when considering financial planning strategies by industrial leaders such as Huntsman (NYSE:HUN).
Research Analysts Lower Q2 2023 Earnings Forecast for Huntsman (NYSE:HUN) as Investors Show Mixed Feedback
The buzz around Huntsman Co. (NYSE:HUN) continues as research analysts at KeyCorp release a report regarding the company’s Q2 2023 earnings per share (EPS) estimates. The report indicates that the basic materials company is expected to post earnings of $0.31 per share for the quarter, which is down from their prior forecast of $0.34. This comes amidst an overall consensus estimate of $1.71 per share for Huntsman’s current full-year earnings.
Vertical Research has also lowered shares of Huntsman from a “buy” rating to a “hold” rating, while other analysts have assigned a mix of buy, hold and sell ratings to the firm with an average target price of $29.42.
Despite this mixed feedback, several large investors have recently added or reduced their stakes in HUN, with Miller Wealth Advisors LLC raising its position in shares of Huntsman by 2,870%. Meanwhile Brown Brothers Harriman & Co acquired a new stake in HUN during the first quarter worth approximately $30,000, with Parkside Financial Bank & Trust increasing its stake in shares by 143.5% during the same period.
Huntsman continues to experience volatility within its industry and it remains to be seen whether this could impact future growth prospects for both the company and investors alike moving forward into Q4 2023 and beyond. The data surrounding HUN remains complex at this time but investors should keep a close eye on further developments as they unfold over coming months and years ahead.
