Eastman Chemical Co. (NYSE:EMN) has earned a consensus rating of “Hold” from the seventeen brokerages that are currently covering the stock. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $76.64.
A number of research firms have commented on EMN. Jefferies Group restated a “buy” rating and set a $88.00 price target on shares of Eastman Chemical in a research report on Friday, July 29th. Nomura reiterated a “buy” rating on shares of Eastman Chemical in a report on Monday, July 11th. Royal Bank Of Canada dropped their target price on shares of Eastman Chemical from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Monday, June 27th. Citigroup Inc. downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $74.00 to $73.00 in a report on Wednesday, September 7th. Finally, Susquehanna initiated coverage on shares of Eastman Chemical in a report on Friday, July 1st. They issued a “positive” rating and a $90.00 target price on the stock.
Eastman Chemical (NYSE:EMN) opened at 63.73 on Thursday. The firm’s 50-day moving average is $66.00 and its 200-day moving average is $70.03. The stock has a market cap of $9.41 billion, a P/E ratio of 10.73 and a beta of 1.53. Eastman Chemical has a 1-year low of $56.03 and a 1-year high of $78.79.
Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by $0.05. Eastman Chemical had a return on equity of 24.40% and a net margin of 9.63%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $2.01 earnings per share. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, analysts forecast that Eastman Chemical will post $6.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Tuesday, September 13th. Eastman Chemical’s dividend payout ratio is 30.98%.
A number of hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new stake in Eastman Chemical during the first quarter valued at approximately $108,000. Financial Architects Inc increased its stake in Eastman Chemical by 8,181.8% in the second quarter. Financial Architects Inc now owns 1,822 shares of the company’s stock valued at $123,000 after buying an additional 1,800 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Eastman Chemical by 22.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,965 shares of the company’s stock valued at $133,000 after buying an additional 361 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in Eastman Chemical by 127.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,022 shares of the company’s stock valued at $137,000 after buying an additional 1,133 shares in the last quarter. Finally, Evercore Wealth Management LLC increased its stake in Eastman Chemical by 0.3% in the second quarter. Evercore Wealth Management LLC now owns 2,321 shares of the company’s stock valued at $158,000 after buying an additional 7 shares in the last quarter. 84.06% of the stock is owned by institutional investors.
Eastman Chemical Company Profile
Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI).
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