Eastman Chemical (NYSE:EMN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $99.15.
Several analysts have weighed in on EMN shares. Morgan Stanley lowered their target price on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Piper Sandler dropped their price objective on shares of Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Barclays cut their target price on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. UBS Group lowered their target price on Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Wall Street Zen downgraded Eastman Chemical from a "buy" rating to a "hold" rating in a report on Monday, April 28th.
Get Our Latest Stock Report on Eastman Chemical
Institutional Investors Weigh In On Eastman Chemical
Several institutional investors have recently bought and sold shares of the stock. Crews Bank & Trust bought a new stake in shares of Eastman Chemical during the 4th quarter worth about $27,000. Picton Mahoney Asset Management increased its stake in shares of Eastman Chemical by 62.3% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 124 shares during the period. Assetmark Inc. raised its holdings in Eastman Chemical by 384.4% during the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after purchasing an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical in the fourth quarter worth approximately $35,000. Finally, Stonebridge Financial Group LLC bought a new position in Eastman Chemical during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 83.65% of the company's stock.
Eastman Chemical Stock Up 2.3%
NYSE:EMN traded up $1.87 during mid-day trading on Friday, reaching $82.41. The stock had a trading volume of 1,872,571 shares, compared to its average volume of 1,092,590. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29. Eastman Chemical has a 1-year low of $70.90 and a 1-year high of $114.50. The stock's 50 day simple moving average is $80.45 and its two-hundred day simple moving average is $90.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.
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, topping analysts' consensus estimates of $1.89 by $0.02. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.61 EPS. Eastman Chemical's quarterly revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.
Eastman Chemical Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Friday, June 13th. Eastman Chemical's dividend payout ratio (DPR) is 42.24%.
About Eastman Chemical
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Get Free ReportEastman 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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