Eastman Chemical (NYSE:EMN) – Equities research analysts at KeyCorp raised their FY2018 EPS estimates for Eastman Chemical in a report issued on Sunday, Zacks Investment Research reports. KeyCorp analyst M. Sison now expects that the basic materials company will earn $8.25 per share for the year, up from their prior forecast of $8.10. KeyCorp has a “Buy” rating and a $118.00 price target on the stock.
Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Cowen restated an “outperform” rating and set a $106.00 price target (up previously from $92.00) on shares of Eastman Chemical in a research report on Friday, December 8th. Tudor Pickering began coverage on shares of Eastman Chemical in a research report on Tuesday, November 14th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Eastman Chemical from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $93.00 price target (up previously from $91.00) on shares of Eastman Chemical in a research report on Monday, October 30th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Eastman Chemical has an average rating of “Buy” and a consensus target price of $99.57.
Eastman Chemical (EMN) opened at $99.27 on Tuesday. The stock has a market cap of $14,146.34, a price-to-earnings ratio of 9.81, a P/E/G ratio of 1.45 and a beta of 1.33. The company has a current ratio of 1.83, a quick ratio of 0.94 and a debt-to-equity ratio of 1.24. Eastman Chemical has a fifty-two week low of $76.02 and a fifty-two week high of $103.21.
Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.56. Eastman Chemical had a net margin of 15.44% and a return on equity of 22.67%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the company posted $1.51 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. RNC Capital Management LLC grew its position in shares of Eastman Chemical by 0.5% in the second quarter. RNC Capital Management LLC now owns 3,278 shares of the basic materials company’s stock valued at $275,000 after purchasing an additional 15 shares during the period. Veritable L.P. boosted its position in Eastman Chemical by 1.0% during the second quarter. Veritable L.P. now owns 2,776 shares of the basic materials company’s stock worth $233,000 after acquiring an additional 27 shares during the last quarter. Mariner Wealth Advisors LLC boosted its position in Eastman Chemical by 2.2% during the second quarter. Mariner Wealth Advisors LLC now owns 5,461 shares of the basic materials company’s stock worth $459,000 after acquiring an additional 117 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Eastman Chemical by 2.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,458 shares of the basic materials company’s stock worth $626,000 after acquiring an additional 143 shares during the last quarter. Finally, First Allied Advisory Services Inc. boosted its position in Eastman Chemical by 0.8% during the second quarter. First Allied Advisory Services Inc. now owns 18,847 shares of the basic materials company’s stock worth $1,588,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Monday, December 18th were given a $0.56 dividend. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, December 15th. This represents a $2.24 annualized dividend and a dividend yield of 2.26%. Eastman Chemical’s dividend payout ratio (DPR) is 22.13%.
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Eastman Chemical Company Profile
Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.
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