Brokerages Set Eastman Chemical Company (NYSE:EMN) Target Price at $78.62

Shares of Eastman Chemical Company (NYSE:EMN) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $78.6154.

A number of analysts have issued reports on EMN shares. Weiss Ratings raised Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. The Goldman Sachs Group cut their price objective on shares of Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Citigroup boosted their target price on shares of Eastman Chemical from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the stock an “overweight” rating in a report on Monday, August 4th. Finally, UBS Group reduced their price target on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th.

Eastman Chemical Trading Up 5.6%

EMN opened at $59.55 on Friday. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 6.16 and a beta of 1.31. The company’s 50 day simple moving average is $61.70 and its two-hundred day simple moving average is $70.03. Eastman Chemical has a 1-year low of $56.11 and a 1-year 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.

Eastman Chemical (NYSE:EMN) last posted 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). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the business posted $2.26 EPS. Eastman Chemical’s revenue for the quarter was down 10.6% compared to the same quarter last year. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Analysts expect that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Eastman Chemical

A number of hedge funds have recently modified their holdings of EMN. MUFG Securities EMEA plc purchased a new stake in Eastman Chemical in the 2nd quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Eastman Chemical by 65.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 146 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Eastman Chemical during the second quarter valued at about $32,000. Loomis Sayles & Co. L P purchased a new stake in shares of Eastman Chemical in the 2nd quarter valued at approximately $33,000. Finally, Rothschild Investment LLC lifted its holdings 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 worth $36,000 after acquiring an additional 229 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Company Profile

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.