Eastman Chemical Company (NYSE:EMN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Eastman Chemical Company (NYSE:EMN) have received an average recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $79.6429.

Several equities analysts recently commented on the stock. Evercore set a $75.00 price objective on shares of Eastman Chemical in a research report on Wednesday, February 18th. Wells Fargo & Company reissued an “equal weight” rating and set a $70.00 target price on shares of Eastman Chemical in a research report on Friday, December 19th. JPMorgan Chase & Co. raised their price target on shares of Eastman Chemical from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $79.00 price objective on shares of Eastman Chemical in a research note on Wednesday, February 4th. Finally, KeyCorp reissued an “overweight” rating on shares of Eastman Chemical in a report on Monday, February 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EMN. MUFG Securities EMEA plc acquired a new position in Eastman Chemical in the 2nd quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new stake in Eastman Chemical during the 4th quarter valued at approximately $25,000. Brown Lisle Cummings Inc. lifted its stake in Eastman Chemical by 70.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at $27,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter worth $27,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 0.1%

Shares of EMN stock opened at $68.82 on Friday. The stock’s fifty day moving average price is $72.92 and its 200 day moving average price is $66.41. Eastman Chemical has a 1-year low of $56.11 and a 1-year high of $91.27. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.37 and a quick ratio of 0.63.

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 analysts’ consensus estimates of $0.76 by ($0.01). Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $1.87 earnings per share. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. On average, research analysts expect that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 4.9%. The ex-dividend date is Friday, March 13th. Eastman Chemical’s payout ratio is presently 82.15%.

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.