Eastman Chemical Company (NYSE:EMN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Eastman Chemical Company (NYSE:EMN) have earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $78.7692.

A number of equities analysts have weighed in on EMN shares. Wells Fargo & Company restated an “equal weight” rating and set a $70.00 price objective on shares of Eastman Chemical in a research report on Friday, December 19th. Mizuho cut 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 note on Friday, October 3rd. Weiss Ratings upgraded shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Citigroup lifted their price objective on Eastman Chemical from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Finally, Evercore ISI cut their price objective on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th.

Institutional Investors Weigh In On Eastman Chemical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Management Group Inc. ADV raised its position in shares of Eastman Chemical by 1.5% in the third quarter. Advisors Management Group Inc. ADV now owns 12,327 shares of the basic materials company’s stock valued at $777,000 after buying an additional 181 shares during the last quarter. AIA Group Ltd acquired a new stake in Eastman Chemical in the 3rd quarter valued at about $836,000. Allworth Financial LP raised its holdings in Eastman Chemical by 3.8% in the 3rd quarter. Allworth Financial LP now owns 203,926 shares of the basic materials company’s stock valued at $12,858,000 after acquiring an additional 7,516 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Eastman Chemical by 7.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,503 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 249 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Eastman Chemical by 29.2% during the 3rd quarter. Captrust Financial Advisors now owns 32,127 shares of the basic materials company’s stock worth $2,026,000 after purchasing an additional 7,256 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

Shares of EMN stock opened at $64.32 on Friday. The company has a current ratio of 1.76, a quick ratio of 0.86 and a debt-to-equity ratio of 0.82. Eastman Chemical has a 12-month low of $56.11 and a 12-month high of $103.82. The business’s 50 day moving average is $61.70 and its two-hundred day moving average is $66.38. The company has a market capitalization of $7.34 billion, a P/E ratio of 10.74, a P/E/G ratio of 6.19 and a beta of 1.23.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Eastman Chemical had a net margin of 7.75% and a return on equity of 12.89%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the firm earned $2.26 earnings per share. The firm’s quarterly revenue 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.

Eastman Chemical Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Monday, December 15th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, December 15th. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a dividend yield of 5.2%. Eastman Chemical’s dividend payout ratio (DPR) is presently 56.09%.

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.