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

Shares of Eastman Chemical Company (NYSE:EMN - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen brokerages that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $98.08.

Several brokerages recently issued reports on EMN. Barclays dropped their price objective on Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 29th. Piper Sandler dropped their price objective on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Wall Street Zen cut Eastman Chemical from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. KeyCorp dropped their price objective on Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, UBS Group dropped their price objective on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday.

Eastman Chemical Trading Down 1.6%

Shares of EMN stock opened at $80.29 on Friday. The company has a market cap of $9.27 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The stock's 50 day simple moving average is $78.94 and its two-hundred day simple moving average is $85.98. Eastman Chemical has a 1 year low of $70.90 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.72 and a quick ratio of 0.79.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.02. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.35 billion. Eastman Chemical had a return on equity of 16.59% and a net margin of 9.85%. The company's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Research analysts predict 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 Tuesday, July 8th. Shareholders of record on Friday, June 13th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.32 annualized dividend and a yield of 4.14%. Eastman Chemical's dividend payout ratio (DPR) is presently 42.24%.

Institutional Trading of Eastman Chemical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas purchased a new stake in shares of Eastman Chemical during the 1st quarter valued at $1,494,000. Farther Finance Advisors LLC lifted its holdings in shares of Eastman Chemical by 12.8% during the 1st quarter. Farther Finance Advisors LLC now owns 1,890 shares of the basic materials company's stock valued at $167,000 after purchasing an additional 214 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Eastman Chemical by 882.3% during the 1st quarter. Golden State Wealth Management LLC now owns 943 shares of the basic materials company's stock valued at $83,000 after purchasing an additional 847 shares during the last quarter. CX Institutional purchased a new stake in shares of Eastman Chemical during the 1st quarter valued at $107,000. Finally, State of Alaska Department of Revenue raised its stake in Eastman Chemical by 1.0% in the 1st quarter. State of Alaska Department of Revenue now owns 28,486 shares of the basic materials company's stock worth $2,509,000 after acquiring an additional 270 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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