Zacks Research Cuts Earnings Estimates for Eastman Chemical

Eastman Chemical (NYSE:EMN) – Zacks Research decreased their Q4 2024 earnings per share (EPS) estimates for Eastman Chemical in a research note issued to investors on Thursday, November 14th. Zacks Research analyst R. Department now anticipates that the basic materials company will post earnings per share of $1.60 for the quarter, down from their prior forecast of $1.78. The consensus estimate for Eastman Chemical’s current full-year earnings is $7.63 per share. Zacks Research also issued estimates for Eastman Chemical’s Q1 2025 earnings at $1.86 EPS, Q2 2025 earnings at $2.28 EPS, Q4 2025 earnings at $1.94 EPS, FY2025 earnings at $8.35 EPS, Q1 2026 earnings at $2.03 EPS, Q3 2026 earnings at $2.41 EPS and FY2026 earnings at $9.03 EPS.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the firm posted $1.47 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis.

Several other research firms have also commented on EMN. Mizuho increased their target price on shares of Eastman Chemical from $107.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Bank of America cut Eastman Chemical from a “buy” rating to a “neutral” rating and increased their target price for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.00 price target on shares of Eastman Chemical in a research note on Tuesday, July 30th. Finally, Barclays increased their price objective on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eastman Chemical presently has a consensus rating of “Hold” and an average price target of $111.50.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $101.61 on Monday. The firm has a market capitalization of $11.78 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The stock’s 50-day simple moving average is $106.07 and its two-hundred day simple moving average is $101.43. Eastman Chemical has a twelve month low of $80.14 and a twelve month high of $114.50.

Institutional Trading of Eastman Chemical

A number of institutional investors have recently modified their holdings of EMN. Wolff Wiese Magana LLC increased its holdings in shares of Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Cultivar Capital Inc. acquired a new stake in shares of Eastman Chemical in the second quarter valued at about $29,000. Dunhill Financial LLC boosted its holdings in Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after buying an additional 162 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Eastman Chemical in the 3rd quarter valued at $38,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Eastman Chemical in the first quarter worth about $38,000. 83.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. This trade represents a 19.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.93% of the stock is currently owned by insiders.

Eastman Chemical Company Profile

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.