Citigroup Cuts Eastman Chemical (NYSE:EMN) Price Target to $81.00

Key Points

• Citigroup lowered Eastman Chemical’s price target from $85 to $81 while maintaining a “Buy” rating, implying approximately 12.5% upside from the stock’s current price.
• Analyst sentiment remains positive overall, with seven Buy ratings and seven Holds, producing a “Moderate Buy” consensus and an average target price of $79.83.
• Eastman Chemical exceeded quarterly expectations, reporting $1.97 in earnings per share versus the $1.82 consensus and $2.51 billion in revenue, up 9.9% year over year.

Eastman Chemical (NYSE:EMN - Get Free Report) had its target price cut by stock analysts at Citigroup from $85.00 to $81.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. Citigroup's price target suggests a potential upside of 12.54% from the stock's current price.

A number of other equities research analysts also recently weighed in on the stock. Mizuho set a $85.00 price target on shares of Eastman Chemical in a research report on Friday, May 1st. The Goldman Sachs Group restated a "neutral" rating and set a $75.00 price objective on shares of Eastman Chemical in a research note on Thursday, July 16th. UBS Group reiterated a "buy" rating and set a $92.00 target price on shares of Eastman Chemical in a research report on Monday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $74.00 target price on shares of Eastman Chemical in a report on Monday. Finally, Wells Fargo & Company boosted their price target on Eastman Chemical from $70.00 to $80.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $79.83.

Eastman Chemical Stock Performance

EMN traded up $2.02 during trading on Monday, hitting $71.97. The stock had a trading volume of 919,222 shares, compared to its average volume of 1,465,884. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 0.90 and a beta of 1.06. The company has a 50 day moving average price of $70.72 and a 200-day moving average price of $72.17. Eastman Chemical has a one year low of $56.11 and a one year high of $83.47.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.53%. Eastman Chemical's revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, research analysts predict that Eastman Chemical will post 6.3 EPS for the current year.

Institutional Trading of Eastman Chemical

Hedge funds have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc bought a new position in shares of Eastman Chemical during the second quarter valued at $25,000. Altshuler Shaham Ltd acquired a new position in Eastman Chemical during the 4th quarter worth about $25,000. Brown Lisle Cummings Inc. grew its position in shares of Eastman Chemical by 70.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company's stock valued at $27,000 after buying an additional 175 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Eastman Chemical in the 4th quarter valued at about $27,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 83.65% of the company's stock.

About Eastman Chemical

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company's main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.