Eastman Chemical (EMN) to Release Quarterly Earnings on Thursday

Eastman Chemical (NYSE:EMNGet Rating) will post its quarterly earnings results after the market closes on Thursday, April 28th. Analysts expect Eastman Chemical to post earnings of $2.18 per share for the quarter. Eastman Chemical has set its FY22 guidance at $9.50-$10.00 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Eastman Chemical (NYSE:EMNGet Rating) last issued its earnings results on Thursday, January 27th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.08). Eastman Chemical had a return on equity of 19.93% and a net margin of 8.18%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the company earned $1.69 earnings per share. Eastman Chemical’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, analysts expect Eastman Chemical to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Shares of NYSE:EMN opened at $111.00 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.56 and a debt-to-equity ratio of 0.76. Eastman Chemical has a twelve month low of $98.24 and a twelve month high of $130.47. The stock’s 50 day moving average is $112.32 and its 200-day moving average is $113.82. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 0.67 and a beta of 1.47.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Tuesday, March 15th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Monday, March 14th. Eastman Chemical’s payout ratio is 48.25%.

A number of equities research analysts recently commented on the company. Wolfe Research reissued a “peer perform” rating and issued a $114.00 price target (down from $130.00) on shares of Eastman Chemical in a research report on Tuesday. KeyCorp lowered their price target on Eastman Chemical from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Tuesday, April 5th. Piper Sandler lowered their price target on Eastman Chemical from $126.00 to $118.00 and set a “neutral” rating for the company in a research report on Wednesday, March 9th. StockNews.com lowered Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on Eastman Chemical from $142.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, January 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical has an average rating of “Hold” and a consensus price target of $130.31.

In other Eastman Chemical news, SVP Mark K. Cox sold 4,858 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $120.79, for a total value of $586,797.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher Moore Killian sold 14,738 shares of the firm’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $122.75, for a total value of $1,809,089.50. The disclosure for this sale can be found here. 1.87% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in EMN. Parametric Portfolio Associates LLC raised its holdings in shares of Eastman Chemical by 1.7% in the 4th quarter. Parametric Portfolio Associates LLC now owns 1,081,952 shares of the basic materials company’s stock valued at $130,819,000 after acquiring an additional 18,405 shares in the last quarter. Allstate Corp raised its holdings in shares of Eastman Chemical by 496.7% during the 4th quarter. Allstate Corp now owns 16,182 shares of the basic materials company’s stock valued at $1,957,000 after buying an additional 13,470 shares in the last quarter. Metropolitan Life Insurance Co NY raised its holdings in shares of Eastman Chemical by 15.7% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 15,355 shares of the basic materials company’s stock valued at $1,857,000 after buying an additional 2,088 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Eastman Chemical during the 4th quarter valued at about $247,000. Finally, Forum Financial Management LP purchased a new position in shares of Eastman Chemical during the 4th quarter valued at about $243,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Company Profile (Get Rating)

Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon and rosin resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins.

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Earnings History for Eastman Chemical (NYSE:EMN)

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