Eastman Chemical (NYSE:EMN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Eastman Chemical (NYSE:EMN) have been assigned an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $89.00.

EMN has been the topic of several research reports. ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. UBS Group restated a “hold” rating and set a $7.80 price target on shares of Deutsche Bank in a research report on Friday, April 26th. Nomura lowered Infosys from a “neutral” rating to a “reduce” rating in a research report on Monday, April 15th. Finally, Cowen restated a “buy” rating and set a $220.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, April 30th.

Large investors have recently made changes to their positions in the business. CSat Investment Advisory L.P. raised its stake in Eastman Chemical by 125.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 349 shares of the basic materials company’s stock valued at $26,000 after buying an additional 194 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in Eastman Chemical during the first quarter valued at $27,000. Nalls Sherbakoff Group LLC purchased a new position in Eastman Chemical during the fourth quarter valued at $28,000. Capital Financial Planning LLC purchased a new position in shares of Eastman Chemical in the fourth quarter worth $29,000. Finally, Berman Capital Advisors LLC purchased a new position in shares of Eastman Chemical in the fourth quarter worth $34,000. Institutional investors and hedge funds own 82.43% of the company’s stock.

Shares of NYSE EMN traded up $2.23 during mid-day trading on Friday, hitting $77.53. 880,584 shares of the stock traded hands, compared to its average volume of 1,165,337. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.79 and a current ratio of 1.51. Eastman Chemical has a 52 week low of $64.84 and a 52 week high of $103.92. The company has a market capitalization of $10.67 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. The stock has a fifty day moving average of $73.06.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.91 by ($0.14). Eastman Chemical had a net margin of 10.07% and a return on equity of 18.60%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the firm earned $2.23 earnings per share. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. Analysts forecast that Eastman Chemical will post 8.44 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 17th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Friday, June 14th. Eastman Chemical’s payout ratio is 30.24%.

About Eastman Chemical

Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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