Eastman Chemical (NYSE:EMN – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $108.07.
Several analysts have issued reports on the company. Barclays upped their price objective on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Piper Sandler reissued a “neutral” rating and set a $105.00 target price on shares of Eastman Chemical in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Eastman Chemical in a research report on Tuesday, July 30th. Citigroup cut their target price on shares of Eastman Chemical from $114.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Finally, Mizuho raised their target price on shares of Eastman Chemical from $102.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th.
View Our Latest Stock Report on EMN
Hedge Funds Weigh In On Eastman Chemical
Eastman Chemical Trading Down 1.5 %
Shares of Eastman Chemical stock opened at $106.63 on Monday. Eastman Chemical has a 12-month low of $68.89 and a 12-month high of $108.81. The stock has a market cap of $12.54 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.75 and a beta of 1.44. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $99.46 and its 200-day moving average is $98.53.
Eastman Chemical (NYSE:EMN – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. Eastman Chemical had a net margin of 9.65% and a return on equity of 13.94%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $1.99 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts predict that Eastman Chemical will post 7.66 earnings per share for the current fiscal year.
Eastman Chemical Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.24 annualized dividend and a yield of 3.04%. Eastman Chemical’s dividend payout ratio is presently 41.75%.
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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