Eastman Chemical (NYSE:EMN) Price Target Cut to $76.00 by Analysts at Citigroup

Key Points

• Citigroup lowered Eastman Chemical’s price target from $81 to $76 while maintaining a “buy” rating, implying 16.95% upside from the prior close.
• Analyst sentiment is mixed: seven firms rate Eastman Chemical a “buy” and eight recommend “hold,” producing an overall “hold” consensus and an average target price of $79.23.
• Shares traded at $64.98, while the company recently beat quarterly earnings expectations with $1.97 EPS versus the $1.82 consensus and revenue of $2.51 billion, up 9.9% year over year.

Eastman Chemical (NYSE:EMN - Get Free Report) had its target price dropped by stock analysts at Citigroup from $81.00 to $76.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. Citigroup's price objective would suggest a potential upside of 16.95% from the company's previous close.

Several other research firms have also commented on EMN. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $74.00 target price on shares of Eastman Chemical in a report on Monday, August 3rd. UBS Group boosted their target price on shares of Eastman Chemical from $89.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. The Goldman Sachs Group restated a "neutral" rating and issued a $75.00 target price on shares of Eastman Chemical in a research report on Thursday, July 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Eastman Chemical in a research note on Thursday, August 13th. Finally, Morgan Stanley dropped their price target on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $79.23.

Eastman Chemical Stock Performance

NYSE:EMN traded down $0.77 during midday trading on Wednesday, hitting $64.98. The company's stock had a trading volume of 507,475 shares, compared to its average volume of 1,368,956. Eastman Chemical has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. The firm has a market cap of $7.43 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.82 and a beta of 1.07. The firm's 50 day moving average is $70.27 and its 200-day moving average is $71.29.

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, beating the consensus estimate of $1.82 by $0.15. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The business had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the business posted $1.60 EPS. The business's quarterly revenue was up 9.9% compared to the same quarter last year. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Equities analysts anticipate that Eastman Chemical will post 6.48 earnings per share for the current fiscal year.

Institutional Trading of Eastman Chemical

A number of large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in Eastman Chemical by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 239,955 shares of the basic materials company's stock valued at $16,072,000 after buying an additional 1,229 shares in the last quarter. State Street Corp raised its stake in Eastman Chemical by 0.7% during the 2nd quarter. State Street Corp now owns 4,169,105 shares of the basic materials company's stock worth $282,741,000 after acquiring an additional 29,010 shares in the last quarter. Security National Bank of SO Dak purchased a new stake in Eastman Chemical in the second quarter valued at $67,000. Core Capital Management & Research inc. purchased a new stake in shares of Eastman Chemical in the 2nd quarter valued at about $3,281,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Eastman Chemical by 21.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,665 shares of the basic materials company's stock valued at $2,188,000 after purchasing an additional 5,694 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.

Eastman Chemical Company Profile

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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