Eastman Chemical (NYSE:EMN) Price Target Cut to $65.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Eastman Chemical’s price target from $74 to $65 while maintaining a “sector perform” rating, implying roughly 4.43% upside from the prior close.
• Analyst sentiment remains mixed, with seven Buy ratings and nine Hold ratings; MarketBeat reports a consensus “Hold” rating and an average price target of $76.64.
• Eastman shares traded at $62.24, near the lower end of their 52-week range, despite the company recently exceeding quarterly EPS and revenue expectations.

Eastman Chemical (NYSE:EMN - Get Free Report) had its price objective reduced by Royal Bank Of Canada from $74.00 to $65.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "sector perform" rating on the basic materials company's stock. Royal Bank Of Canada's target price suggests a potential upside of 4.43% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Barclays initiated coverage on shares of Eastman Chemical in a research note on Monday. They set an "equal weight" rating and a $72.00 price target on the stock. Citigroup lowered their price target on shares of Eastman Chemical from $81.00 to $76.00 and set a "buy" rating on the stock in a report on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $74.00 price objective on shares of Eastman Chemical in a research note on Monday, August 3rd. Morgan Stanley reduced their price objective on shares of Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, July 2nd. Finally, UBS Group decreased their target price on shares of Eastman Chemical from $92.00 to $77.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $76.64.

Eastman Chemical Stock Performance

EMN traded up $0.14 on Tuesday, hitting $62.24. 79,115 shares of the stock traded hands, compared to its average volume of 1,370,083. The business has a fifty day moving average price of $69.36 and a two-hundred day moving average price of $70.96. The company has a current ratio of 1.50, a quick ratio of 0.76 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $7.12 billion, a PE ratio of 16.18, a P/E/G ratio of 0.78 and a beta of 1.06. Eastman Chemical has a 52 week low of $56.11 and a 52 week high of $83.47.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.15. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%. The company's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, research analysts predict that Eastman Chemical will post 6.43 EPS for the current fiscal year.

Institutional Trading of Eastman Chemical

A number of large investors have recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC acquired a new stake in Eastman Chemical in the third quarter worth about $307,000. Valley Wealth Managers Inc. raised its holdings in Eastman Chemical by 3.2% during the 3rd quarter. Valley Wealth Managers Inc. now owns 63,718 shares of the basic materials company's stock worth $4,131,000 after purchasing an additional 1,975 shares during the last quarter. Wedmont Private Capital acquired a new position in Eastman Chemical during the 3rd quarter valued at about $334,000. Farther Finance Advisors LLC lifted its holdings in Eastman Chemical by 196.8% in the third quarter. Farther Finance Advisors LLC now owns 11,116 shares of the basic materials company's stock valued at $721,000 after buying an additional 7,371 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in shares of Eastman Chemical by 4.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 5,346 shares of the basic materials company's stock worth $347,000 after purchasing an additional 226 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

About Eastman Chemical

Eastman Chemical Company NYSE: EMN is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman's portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.

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