Eastman Chemical (NYSE:EMN) Given Consensus Rating of "Moderate Buy" by Analysts

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.

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

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.