Eastman Chemical Company (NYSE:EMN) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Fifteen brokerages place Eastman at an average rating of Hold (eight holds, seven buys) with a 12‑month consensus target of $79.31, and several firms (JPMorgan, BofA, UBS) recently raised price targets to $70, $79 and $88 respectively.
• Eastman slightly missed quarterly EPS ($0.75 vs. $0.76) and reported revenue down 12.1% year‑over‑year, though analysts still forecast roughly 8.55 EPS for the current year.
• The company recently paid a $0.84 quarterly dividend (annualized $3.36) yielding about 4.5% with an 82.15% payout ratio; shares trade near $74 with an $8.45 billion market cap and ~83.65% institutional ownership.

Eastman Chemical Company (NYSE:EMN - Get Free Report) has been assigned an average rating of "Hold" from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $79.3077.

A number of research firms have recently commented on EMN. Zacks Research upgraded shares of Eastman Chemical from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Wells Fargo & Company restated an "equal weight" rating and set a $70.00 price target on shares of Eastman Chemical in a research report on Friday, December 19th. JPMorgan Chase & Co. boosted their price target on shares of Eastman Chemical from $60.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Bank of America boosted their price target on shares of Eastman Chemical from $74.00 to $79.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Finally, UBS Group boosted their price target on shares of Eastman Chemical from $80.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, April 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC grew its position in Eastman Chemical by 0.6% in the fourth quarter. Lido Advisors LLC now owns 20,313 shares of the basic materials company's stock worth $1,297,000 after acquiring an additional 125 shares in the last quarter. Generali Asset Management SPA SGR grew its position in Eastman Chemical by 9.6% in the fourth quarter. Generali Asset Management SPA SGR now owns 1,700 shares of the basic materials company's stock worth $109,000 after acquiring an additional 149 shares in the last quarter. UMB Bank n.a. grew its position in Eastman Chemical by 6.2% in the fourth quarter. UMB Bank n.a. now owns 2,571 shares of the basic materials company's stock worth $164,000 after acquiring an additional 150 shares in the last quarter. Jacobi Capital Management LLC grew its position in Eastman Chemical by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 4,982 shares of the basic materials company's stock worth $318,000 after acquiring an additional 153 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Eastman Chemical by 0.7% in the fourth quarter. QRG Capital Management Inc. now owns 23,069 shares of the basic materials company's stock worth $1,472,000 after acquiring an additional 158 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Trading Down 0.3%

Shares of EMN stock opened at $74.06 on Tuesday. The company's fifty day simple moving average is $74.24 and its two-hundred day simple moving average is $67.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.37 and a quick ratio of 0.63. Eastman Chemical has a 1 year low of $56.11 and a 1 year high of $84.18. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.62 and a beta of 1.16.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.01). The firm had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $2.03 billion. Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The firm's revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 earnings per share. As a group, analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Friday, March 13th were given a $0.84 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.36 annualized dividend and a yield of 4.5%. Eastman Chemical's payout ratio is 82.15%.

Eastman Chemical Company Profile

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.

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