Eastman Chemical (NYSE:EMN) Receives $108.07 Average PT from Analysts

Eastman Chemical (NYSE:EMN) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $108.53.

Several brokerages have weighed in on EMN. Piper Sandler reissued a “neutral” rating and issued a $105.00 price target on shares of Eastman Chemical in a report on Tuesday, July 30th. Barclays boosted their target price on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Citigroup dropped their price objective on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bridgefront Capital LLC purchased a new position in shares of Eastman Chemical during the 4th quarter worth approximately $467,000. Integrated Advisors Network LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at $3,107,000. Tucker Asset Management LLC raised its holdings in shares of Eastman Chemical by 21.8% in the 4th quarter. Tucker Asset Management LLC now owns 1,060 shares of the basic materials company’s stock valued at $95,000 after buying an additional 190 shares during the period. Vanguard Group Inc. lifted its stake in Eastman Chemical by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 14,839,723 shares of the basic materials company’s stock worth $1,332,904,000 after acquiring an additional 61,580 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Eastman Chemical during the 4th quarter worth about $2,804,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Up 0.4 %

EMN opened at $110.57 on Friday. Eastman Chemical has a one year low of $68.89 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 0.83 and a beta of 1.44. The stock’s 50 day moving average price is $102.69 and its 200-day moving average price is $100.26.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, July 25th. The basic materials company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.14. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.99 earnings per share. On average, equities analysts forecast that Eastman Chemical will post 7.67 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were given a $0.81 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.24 dividend on an annualized basis and a yield of 2.93%. Eastman Chemical’s payout ratio is currently 41.75%.

About Eastman Chemical

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.