Eastman Chemical (NYSE:EMN) Price Target Raised to $78.00 at Citigroup

Eastman Chemical (NYSE:EMN) had its target price boosted by Citigroup from $75.00 to $78.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the basic materials company’s stock.

A number of other equities analysts have also recently weighed in on EMN. UBS Group lowered their price target on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Evercore ISI decreased their target price on shares of Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Royal Bank Of Canada lowered shares of Eastman Chemical from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $74.00 to $70.00 in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Eastman Chemical from $64.00 to $72.00 and gave the company a “hold” rating in a research report on Monday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Eastman Chemical in a report on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $78.21.

Eastman Chemical Stock Performance

NYSE:EMN opened at $75.96 on Tuesday. The company’s 50-day moving average is $65.56 and its two-hundred day moving average is $64.94. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 7.11 and a beta of 1.23. 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 has a 1-year low of $56.11 and a 1-year high of $103.82.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Eastman Chemical had a net margin of 5.42% and a return on equity of 10.63%. The firm’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.87 EPS. Analysts forecast that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Monday, December 15th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.83. The ex-dividend date was Monday, December 15th. Eastman Chemical’s dividend payout ratio (DPR) is presently 82.15%.

Hedge Funds Weigh In On Eastman Chemical

Several institutional investors have recently modified their holdings of EMN. Brighton Jones LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at $202,000. Integrated Wealth Concepts LLC raised its position in Eastman Chemical by 185.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company’s stock valued at $589,000 after purchasing an additional 4,345 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Eastman Chemical by 69.2% in the 1st quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company’s stock valued at $17,098,000 after buying an additional 79,376 shares during the period. NewEdge Advisors LLC grew its position in shares of Eastman Chemical by 2.6% during the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after buying an additional 183 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Eastman Chemical during the first quarter worth approximately $252,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Key Eastman Chemical News

Here are the key news stories impacting Eastman Chemical this week:

• Positive Sentiment: Citigroup raised its price target to $78 and kept a “buy” rating, signaling incremental analyst conviction that EMN has upside. Article Title
• Positive Sentiment: Bank of America increased its target to $79 and maintained a “buy” rating, reinforcing bullish sentiment from another large shop. Article Title
• Positive Sentiment: Seeking Alpha published a bullish note arguing results have bottomed; it highlights cost cuts, the Kingsport ramp-up, solid free cash flow and a 4.8% dividend yield as reasons EMN can recover. That thematic bullishness likely supported today’s buying. Eastman Chemical: Confidence Grows As Results Have Bottomed
• Neutral Sentiment: Zacks ran a piece on Eastman’s reliance on international sales — useful context for investors assessing growth drivers and risk from Chinese exports and FX, but not an immediate catalyst. Article Title
• Negative Sentiment: JPMorgan raised its target to $70 but keeps an “overweight” stance; the new target remains below the current price, which may temper further upside and suggests some analysts see limited short-term upside. Article Title
• Negative Sentiment: Deutsche Bank boosted its target to $72 but stayed at “hold”; that target also implies downside from the current level and highlights continuing caution among some analysts. Article Title

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.