UBS Group Cuts Eastman Chemical (NYSE:EMN) Price Target to $73.00

Eastman Chemical (NYSE:EMN) had its price objective cut by UBS Group from $75.00 to $73.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

EMN has been the topic of a number of other research reports. Citigroup raised their price objective on Eastman Chemical from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group dropped their price target on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the stock an “overweight” rating in a research report on Monday, August 4th. Bank of America decreased their target price on shares of Eastman Chemical from $78.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Finally, Mizuho dropped their target price on shares of Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Eastman Chemical currently has an average rating of “Moderate Buy” and an average target price of $79.33.

Eastman Chemical Stock Up 2.7%

EMN stock opened at $61.25 on Wednesday. Eastman Chemical has a fifty-two week low of $56.75 and a fifty-two week high of $107.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 6.16 and a beta of 1.31. The business’s fifty day moving average price is $63.43 and its two-hundred day moving average price is $71.27.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.28 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company’s revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the company posted $2.26 earnings per share. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. On average, equities analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current year.

Hedge Funds Weigh In On Eastman Chemical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc bought a new position in shares of Eastman Chemical during the second quarter worth about $25,000. MassMutual Private Wealth & Trust FSB raised its holdings in Eastman Chemical by 65.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 146 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Eastman Chemical during the 2nd quarter worth approximately $32,000. Loomis Sayles & Co. L P acquired a new position in shares of Eastman Chemical in the 2nd quarter worth approximately $33,000. Finally, Rothschild Investment LLC boosted its stake in shares of Eastman Chemical by 65.6% in the 3rd quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 229 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.