Eastman Chemical (EMN) Set to Announce Quarterly Earnings on Thursday

Eastman Chemical (NYSE:EMN) is scheduled to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Eastman Chemical to post earnings of $1.43 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 earnings per share. On average, analysts expect Eastman Chemical to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Eastman Chemical Trading Down 0.4 %

Shares of Eastman Chemical stock opened at $95.97 on Thursday. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71. The company’s fifty day simple moving average is $92.17 and its 200-day simple moving average is $85.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.70. The stock has a market capitalization of $11.29 billion, a PE ratio of 12.81, a P/E/G ratio of 1.08 and a beta of 1.54.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.81 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a yield of 3.38%. Eastman Chemical’s dividend payout ratio is currently 43.26%.

Insider Transactions at Eastman Chemical

In related news, SVP Adrian James Holt sold 4,735 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.28% of the company’s stock.

Institutional Trading of Eastman Chemical

Hedge funds have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC bought a new stake in shares of Eastman Chemical in the 2nd quarter valued at about $33,000. Money Concepts Capital Corp lifted its holdings in Eastman Chemical by 435.0% during the fourth quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company’s stock worth $35,000 after buying an additional 348 shares during the period. Point72 Asset Management L.P. bought a new stake in Eastman Chemical during the 4th quarter valued at $37,000. Harbour Investments Inc. increased its holdings in shares of Eastman Chemical by 164.6% in the 4th quarter. Harbour Investments Inc. now owns 463 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 288 shares during the period. Finally, Compass Wealth Management LLC bought a new position in shares of Eastman Chemical in the 4th quarter worth $49,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EMN has been the subject of a number of recent research reports. UBS Group boosted their price objective on Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Royal Bank of Canada dropped their price target on shares of Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 6th. Stifel Nicolaus decreased their price objective on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Redburn Atlantic assumed coverage on shares of Eastman Chemical in a report on Thursday, February 15th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company increased their price target on Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.13.

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.