Shares of Eastman Chemical (NYSE:EMN) have been given an average rating of “Buy” by the sixteen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $84.64.
Several research firms recently commented on EMN. Zacks Investment Research downgraded shares of Eastman Chemical from a “hold” rating to a “sell” rating and set a $78.00 price target on the stock. in a research note on Tuesday, October 1st. Tudor Pickering raised shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, August 15th. ValuEngine upgraded shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America began coverage on shares of Eastman Chemical in a research report on Thursday, September 26th. They set a “buy” rating and a $84.00 target price on the stock. Finally, SunTrust Banks raised their target price on shares of Eastman Chemical to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. They noted that the move was a valuation call.
EMN traded up $1.81 during trading hours on Monday, reaching $77.50. 1,268,675 shares of the company’s stock traded hands, compared to its average volume of 1,130,847. The firm has a 50-day moving average price of $78.03 and a 200 day moving average price of $73.30. The firm has a market capitalization of $10.54 billion, a PE ratio of 9.45, a PEG ratio of 1.54 and a beta of 1.39. The company has a quick ratio of 0.84, a current ratio of 1.65 and a debt-to-equity ratio of 0.91. Eastman Chemical has a 52-week low of $61.22 and a 52-week high of $86.18.
Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.04). Eastman Chemical had a return on equity of 16.58% and a net margin of 8.12%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the business earned $2.34 EPS. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. Equities analysts predict that Eastman Chemical will post 7.11 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of EMN. Berman Capital Advisors LLC lifted its holdings in Eastman Chemical by 28.6% during the second quarter. Berman Capital Advisors LLC now owns 639 shares of the basic materials company’s stock worth $49,000 after buying an additional 142 shares during the period. Lido Advisors LLC boosted its position in Eastman Chemical by 2.0% during the 2nd quarter. Lido Advisors LLC now owns 9,221 shares of the basic materials company’s stock valued at $723,000 after acquiring an additional 179 shares in the last quarter. BLB&B Advisors LLC boosted its position in Eastman Chemical by 1.9% during the 3rd quarter. BLB&B Advisors LLC now owns 10,560 shares of the basic materials company’s stock valued at $780,000 after acquiring an additional 200 shares in the last quarter. Cadence Capital Management LLC increased its holdings in shares of Eastman Chemical by 2.8% in the 3rd quarter. Cadence Capital Management LLC now owns 8,021 shares of the basic materials company’s stock valued at $592,000 after acquiring an additional 220 shares during the period. Finally, Breiter Capital Management Inc. increased its holdings in shares of Eastman Chemical by 10.6% in the 2nd quarter. Breiter Capital Management Inc. now owns 2,383 shares of the basic materials company’s stock valued at $238,000 after acquiring an additional 228 shares during the period. Institutional investors own 79.78% of the company’s stock.
Eastman Chemical Company Profile
Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
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