Eastman Chemical Company (NYSE:EMN) has received a consensus rating of “Buy” from the eleven ratings firms that are currently covering the company, AnalystRatingsNetwork.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $88.11.
A number of analysts have recently weighed in on EMN shares. Analysts at Zacks upgraded shares of Eastman Chemical Company from a “sell” rating to a “hold” rating in a research note on Monday, July 13th. Analysts at Nomura upgraded shares of Eastman Chemical Company from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $98.00 in a research note on Monday, June 22nd. Analysts at JPMorgan Chase & Co. upgraded shares of Eastman Chemical Company from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $75.00 to $90.00 in a research note on Tuesday, May 5th. Analysts at Citigroup Inc. raised their price target on shares of Eastman Chemical Company from $74.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, analysts at TheStreet upgraded shares of Eastman Chemical Company from a “hold” rating to a “buy” rating in a research note on Thursday, April 30th.
In other Eastman Chemical Company news, COO Ronald Carter Lindsay sold 11,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $82.17, for a total value of $903,870.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Godefroy Afe Motte sold 7,920 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $80.07, for a total transaction of $634,154.40. The disclosure for this sale can be found here.
Eastman Chemical Company (NYSE:EMN) traded down 1.51% during mid-day trading on Tuesday, hitting $77.00. 654,784 shares of the company’s stock traded hands. Eastman Chemical Company has a 1-year low of $67.13 and a 1-year high of $89.02. The stock’s 50-day moving average is $79.17 and its 200-day moving average is $75.05. The company has a market cap of $11.45 billion and a P/E ratio of 16.82.
Eastman Chemical Company (NYSE:EMN) last announced its earnings results on Thursday, April 30th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.24. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts predict that Eastman Chemical Company will post $7.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Thursday, June 11th.
Eastman Chemical Company (NYSE:EMN) is a specialty chemicals company that produces a broad range of advanced materials, chemicals and fibers that are found in products people use every day. Eastman has over 45 manufacturing sites in 16 countries and equity interests in joint ventures that supply chemicals, plastics and fibers products to customers around the world. Eastman has a portfolio of specialty businesses in a range of end markets, such as transportation, building and construction and consumables. Eastman management believes that the Company’s end-market diversity is a source of strength, as these markets are benefiting from trends, such as energy efficiency, a rising middle class in emerging economies and increased health and wellness. The Company’s operating segments include Additives & Functional Products, Adhesives & Plasticizers, Advanced Materials, Fibers and Specialty Fluids & Intermediates.