Eastman Chemical Co. (NYSE:EMN) – Analysts at Jefferies Group decreased their FY2019 EPS estimates for shares of Eastman Chemical in a report issued on Thursday. Jefferies Group analyst L. Alexander now anticipates that the brokerage will post earnings of $8.85 per share for the year, down from their previous forecast of $9.25. Jefferies Group currently has a “Buy” rating and a $88.00 price target on the stock. Jefferies Group also issued estimates for Eastman Chemical’s FY2020 earnings at $9.60 EPS.
EMN has been the subject of several other research reports. Cowen and Company cut their target price on Eastman Chemical from $96.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, August 23rd. Morgan Stanley restated a “hold” rating on shares of Eastman Chemical in a research report on Thursday, June 16th. Royal Bank Of Canada downgraded Eastman Chemical from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $83.00 to $70.00 in a research report on Tuesday, August 2nd. TheStreet downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Nomura restated a “buy” rating on shares of Eastman Chemical in a research report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Eastman Chemical currently has a consensus rating of “Hold” and an average target price of $76.29.
Eastman Chemical (NYSE:EMN) opened at 67.68 on Monday. The company has a market cap of $10.00 billion, a PE ratio of 11.40 and a beta of 1.53. Eastman Chemical has a 52 week low of $56.03 and a 52 week high of $78.79. The company’s 50-day moving average price is $66.09 and its 200 day moving average price is $70.50.
Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, July 28th. The company reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by $0.05. Eastman Chemical had a net margin of 9.63% and a return on equity of 24.40%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the business earned $2.01 EPS. The company’s quarterly revenue was down 9.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.72%. Eastman Chemical’s dividend payout ratio (DPR) is presently 30.98%.
Several large investors have recently made changes to their positions in EMN. Evercore Wealth Management LLC boosted its stake in shares of Eastman Chemical by 0.3% in the second quarter. Evercore Wealth Management LLC now owns 2,321 shares of the company’s stock worth $158,000 after buying an additional 7 shares during the period. Ifrah Financial Services Inc. boosted its stake in shares of Eastman Chemical by 0.5% in the second quarter. Ifrah Financial Services Inc. now owns 3,342 shares of the company’s stock worth $227,000 after buying an additional 18 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Eastman Chemical by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 5,671 shares of the company’s stock worth $385,000 after buying an additional 30 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Eastman Chemical by 0.9% in the second quarter. Cleararc Capital Inc. now owns 3,630 shares of the company’s stock worth $246,000 after buying an additional 31 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of Eastman Chemical by 0.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 9,893 shares of the company’s stock worth $672,000 after buying an additional 85 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.
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).
Receive News & Ratings for Eastman Chemical Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical Co. and related companies with MarketBeat.com's FREE daily email newsletter.