Eastman Kodak (NYSE:KODK) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Eastman Kodak to “Hold.” However, analyst sentiment remains cautious, with MarketBeat reporting an average rating of “Reduce” based on one Hold and one Sell rating.
• Eastman Kodak reported quarterly EPS of $0.13 on revenue of $311 million, but continued to post a negative net margin of 8.28% and negative return on equity of 14.47%.
• KODK opened at $9.60, with a market capitalization of roughly $940 million and a 52-week trading range of $5.78 to $14.87. Institutional investors own 33.65% of the company, with several funds recently increasing their positions.

Eastman Kodak (NYSE:KODK - Get Free Report) was upgraded by analysts at Zacks Research to a "hold" rating in a research note issued on Thursday, Zacks reports.

Several other equities analysts have also commented on the company. Weiss Ratings raised Eastman Kodak from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Eastman Kodak from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce".

Eastman Kodak Price Performance

KODK opened at $9.60 on Thursday. The stock has a market capitalization of $939.54 million, a PE ratio of -6.90 and a beta of 1.58. The stock's 50 day moving average price is $9.05 and its 200-day moving average price is $9.58. Eastman Kodak has a 52-week low of $5.78 and a 52-week high of $14.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.91.

Eastman Kodak (NYSE:KODK - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $311.00 million during the quarter. Eastman Kodak had a negative net margin of 8.28% and a negative return on equity of 14.47%. On average, equities research analysts predict that Eastman Kodak will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Eastman Kodak by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,177,801 shares of the technology company's stock valued at $19,707,000 after buying an additional 113,398 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Eastman Kodak by 1.1% in the second quarter. Empowered Funds LLC now owns 393,092 shares of the technology company's stock worth $3,636,000 after acquiring an additional 4,176 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Eastman Kodak by 438.9% in the first quarter. Bank of America Corp DE now owns 331,883 shares of the technology company's stock worth $3,004,000 after acquiring an additional 270,297 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Eastman Kodak by 0.6% during the first quarter. First Trust Advisors LP now owns 224,077 shares of the technology company's stock valued at $2,028,000 after acquiring an additional 1,294 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Eastman Kodak during the second quarter valued at $1,941,000. Institutional investors own 33.65% of the company's stock.

About Eastman Kodak

Eastman Kodak Company is a technology and imaging company that develops products and services for commercial printing, publishing, packaging, and professional photography. Its offerings include workflow software, digital printing systems, offset printing plates, inks, and related consumables. Kodak also supplies film and photographic chemicals for commercial, motion-picture, and specialty imaging applications.

The company serves customers worldwide, including commercial printers, publishers, packaging producers, manufacturers, professional photographers, and the film and entertainment industries.

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