Eastman Chemical Company (NYSE:EMN) Receives Average Rating of “Hold” from Analysts

Shares of Eastman Chemical Company (NYSE:EMN) have been given an average recommendation of “Hold” by the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $78.5385.

EMN has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Eastman Chemical in a research note on Wednesday, January 21st. Bank of America reduced their price target on shares of Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Citigroup raised their price objective on shares of Eastman Chemical from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Royal Bank Of Canada lowered shares of Eastman Chemical from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $74.00 to $70.00 in a research note on Friday, January 16th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $70.00 target price on shares of Eastman Chemical in a research note on Friday, December 19th.

Eastman Chemical Price Performance

Shares of EMN opened at $69.04 on Thursday. The firm has a fifty day moving average price of $64.55 and a 200 day moving average price of $65.21. The stock has a market cap of $7.88 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 6.77 and a beta of 1.23. Eastman Chemical has a 1-year low of $56.11 and a 1-year high of $103.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86.

Eastman Chemical (NYSE:EMN) last posted its earnings results 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). The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.28 billion. Eastman Chemical had a return on equity of 12.89% and a net margin of 7.75%.The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 EPS. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. As a group, sell-side analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 15th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.83. Eastman Chemical’s payout ratio is 56.09%.

Institutional Investors Weigh In On Eastman Chemical

Several hedge funds have recently modified their holdings of the stock. Vontobel Holding Ltd. acquired a new stake in Eastman Chemical in the 2nd quarter worth about $392,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Eastman Chemical by 235.2% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 66,200 shares of the basic materials company’s stock worth $4,942,000 after acquiring an additional 46,453 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Eastman Chemical by 19.2% in the second quarter. Nisa Investment Advisors LLC now owns 67,112 shares of the basic materials company’s stock worth $5,066,000 after acquiring an additional 10,813 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Eastman Chemical by 9.2% in the second quarter. Bank of Montreal Can now owns 472,384 shares of the basic materials company’s stock worth $35,268,000 after acquiring an additional 39,930 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Eastman Chemical by 0.5% in the second quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock valued at $1,094,485,000 after purchasing an additional 79,988 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Company Profile

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.