Citigroup Cuts Eastman Chemical (NYSE:EMN) Price Target to $81.00

Eastman Chemical (NYSE:EMN) had its target price reduced by Citigroup from $85.00 to $81.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $74.00 price objective on shares of Eastman Chemical in a research note on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $75.00 target price on shares of Eastman Chemical in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastman Chemical in a report on Monday, May 18th. Wells Fargo & Company increased their target price on Eastman Chemical from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Finally, Morgan Stanley cut their price target on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.17.

Eastman Chemical Trading Down 0.6%

Shares of NYSE:EMN opened at $73.48 on Monday. The stock has a market cap of $8.40 billion, a PE ratio of 19.13, a P/E/G ratio of 0.92 and a beta of 1.06. The business has a 50 day moving average of $70.61 and a 200-day moving average of $72.26. The company has a quick ratio of 0.71, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. Eastman Chemical has a 12-month low of $56.11 and a 12-month high of $83.47.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, equities research analysts forecast that Eastman Chemical will post 6.39 earnings per share for the current year.

Institutional Trading of Eastman Chemical

Several hedge funds have recently made changes to their positions in EMN. MUFG Securities EMEA plc purchased a new position in Eastman Chemical during the second quarter valued at approximately $25,000. Altshuler Shaham Ltd purchased a new position in shares of Eastman Chemical during the 4th quarter valued at $25,000. Brown Lisle Cummings Inc. grew its position in shares of Eastman Chemical by 70.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Eastman Chemical in the fourth quarter worth $27,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter worth $27,000. 83.65% of the stock is currently owned by institutional investors.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.