Royal Bank Of Canada Issues Positive Forecast for Eastman Chemical (NYSE:EMN) Stock Price

Key Points

• Royal Bank of Canada raised Eastman Chemical’s price target from $69 to $74 while maintaining a “sector perform” rating, implying approximately 1.42% upside from the prior close.
• Analyst sentiment is generally positive, with seven Buy and seven Hold ratings; the consensus is “Moderate Buy” with an average price target of $79.17.
• Eastman Chemical exceeded quarterly expectations, reporting $1.97 in earnings per share versus $1.82 expected and $2.51 billion in revenue versus $2.40 billion forecast, with revenue up 9.9% year over year.

Eastman Chemical (NYSE:EMN - Get Free Report) had its price target boosted by research analysts at Royal Bank Of Canada from $69.00 to $74.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the basic materials company's stock. Royal Bank Of Canada's target price would indicate a potential upside of 1.42% from the stock's previous close.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $74.00 target price on shares of Eastman Chemical in a research report on Monday. Mizuho set a $85.00 price target on shares of Eastman Chemical in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $75.00 price objective on shares of Eastman Chemical in a report on Thursday, July 16th. UBS Group upped their price objective on Eastman Chemical from $89.00 to $92.00 and gave the company a "buy" rating in a research note on Monday. Finally, Morgan Stanley dropped their target price on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, July 2nd. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, Eastman Chemical currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.17.

Eastman Chemical Stock Performance

Shares of EMN traded down $0.94 on Wednesday, reaching $72.96. 227,539 shares of the stock traded hands, compared to its average volume of 1,463,107. The stock's 50-day moving average price is $70.66 and its 200-day moving average price is $72.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.71. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 0.92 and a beta of 1.06. Eastman Chemical has a 12 month low of $56.11 and a 12 month high of $83.47.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.82 by $0.15. The firm had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.Eastman Chemical's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Equities analysts forecast that Eastman Chemical will post 6.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Horizon Investments LLC increased its stake in shares of Eastman Chemical by 3,022.6% in the fourth quarter. Horizon Investments LLC now owns 100,078 shares of the basic materials company's stock valued at $6,388,000 after buying an additional 96,873 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Eastman Chemical by 84.2% during the 4th quarter. State of Alaska Department of Revenue now owns 100,129 shares of the basic materials company's stock worth $6,390,000 after buying an additional 45,774 shares in the last quarter. Yousif Capital Management LLC lifted its position in Eastman Chemical by 81.8% during the 4th quarter. Yousif Capital Management LLC now owns 23,169 shares of the basic materials company's stock worth $1,534,000 after buying an additional 10,428 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in Eastman Chemical by 21.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 559,128 shares of the basic materials company's stock worth $35,689,000 after acquiring an additional 99,883 shares during the last quarter. Finally, DDD Partners LLC bought a new stake in Eastman Chemical during the 4th quarter worth about $15,425,000. 83.65% of the stock is owned by institutional investors and hedge funds.

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.

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