Bank of America Lowers Eastman Chemical (NYSE:EMN) Price Target to $74.00

Key Points

• Bank of America has lowered its price target for Eastman Chemical from $78.00 to $74.00, while maintaining a "buy" rating on the stock.
• Analysts have varied price targets for Eastman Chemical; Mizuho set it at $75.00, and Wells Fargo at $80.00, indicating a consensus "Moderate Buy" rating with an average target price of $82.85.
• Eastman Chemical reported a quarterly EPS of $1.60, falling short of the analysts' estimate of $1.72, with revenue of $2.29 billion compared to the estimate of $2.32 billion.

Eastman Chemical (NYSE:EMN - Get Free Report) had its price target decreased by investment analysts at Bank of America from $78.00 to $74.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. Bank of America's price objective suggests a potential upside of 23.15% from the stock's current price.

Other analysts have also issued reports about the stock. Mizuho dropped their price target on shares of Eastman Chemical from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. Wells Fargo & Company upped their price target on shares of Eastman Chemical from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. UBS Group dropped their price target on shares of Eastman Chemical from $86.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, October 6th. Royal Bank Of Canada dropped their price target on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group dropped their price target on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Eastman Chemical has a consensus rating of "Moderate Buy" and an average target price of $82.85.

Eastman Chemical Stock Performance

Shares of EMN stock opened at $60.09 on Tuesday. The company's fifty day simple moving average is $65.14 and its 200-day simple moving average is $73.58. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81. The firm has a market cap of $6.90 billion, a PE ratio of 8.44, a P/E/G ratio of 5.79 and a beta of 1.29. Eastman Chemical has a 12 month low of $56.78 and a 12 month high of $111.79.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.12). The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.32 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Equities research analysts expect that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EMN. MUFG Securities EMEA plc bought a new position in shares of Eastman Chemical in the second quarter worth about $25,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Eastman Chemical by 65.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company's stock worth $28,000 after acquiring an additional 146 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Eastman Chemical in the second quarter worth about $32,000. Loomis Sayles & Co. L P bought a new position in Eastman Chemical in the 2nd quarter valued at approximately $33,000. Finally, National Pension Service raised its holdings in Eastman Chemical by 75.3% in the 1st quarter. National Pension Service now owns 433 shares of the basic materials company's stock valued at $38,000 after buying an additional 186 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

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.

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