Brokerages Set Eastman Chemical Company (NYSE:EMN) PT at $78.77

Eastman Chemical Company (NYSE:EMN) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $78.7692.

A number of analysts recently weighed in on the stock. Evercore ISI cut their price target on shares of Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Royal Bank Of Canada set a $71.00 target price on shares of Eastman Chemical in a report on Tuesday, October 14th. Weiss Ratings raised shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. UBS Group lowered their price objective on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Mizuho reduced their target price on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EMN. Vontobel Holding Ltd. acquired a new stake in Eastman Chemical in the 2nd quarter valued at approximately $392,000. Y Intercept Hong Kong Ltd grew its stake in shares of Eastman Chemical by 235.2% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 66,200 shares of the basic materials company’s stock worth $4,942,000 after acquiring an additional 46,453 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Eastman Chemical by 19.2% in the second quarter. Nisa Investment Advisors LLC now owns 67,112 shares of the basic materials company’s stock valued at $5,066,000 after purchasing an additional 10,813 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Eastman Chemical by 9.2% in the second quarter. Bank of Montreal Can now owns 472,384 shares of the basic materials company’s stock worth $35,268,000 after purchasing an additional 39,930 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Eastman Chemical by 0.5% during the second quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock worth $1,094,485,000 after purchasing an additional 79,988 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

EMN stock opened at $68.34 on Friday. Eastman Chemical has a twelve month low of $56.11 and a twelve month high of $103.82. The company has a quick ratio of 0.86, a current ratio of 1.76 and a debt-to-equity ratio of 0.82. The company has a market cap of $7.80 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 6.23 and a beta of 1.23. The business’s fifty day moving average is $61.82 and its 200-day moving average is $66.21.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Eastman Chemical had a net margin of 7.75% and a return on equity of 12.89%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the company posted $2.26 EPS. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Equities research analysts forecast that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Monday, December 15th will be given a $0.84 dividend. The ex-dividend date is Monday, December 15th. This represents a $3.36 annualized dividend and a dividend yield of 4.9%. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.83. Eastman Chemical’s payout ratio is presently 56.09%.

Eastman Chemical Company Profile

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.