News stories about Eastman Chemical (NYSE:EMN) have been trending somewhat positive this week, according to Accern. The research firm scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Eastman Chemical earned a coverage optimism score of 0.20 on Accern’s scale. Accern also gave news stories about the basic materials company an impact score of 46.1323578845946 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:
Eastman Chemical opened at $98.53 on Wednesday, MarketBeat Ratings reports. Eastman Chemical has a fifty-two week low of $81.91 and a fifty-two week high of $112.45. The company has a quick ratio of 0.99, a current ratio of 1.72 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $14.19 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21.
Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, April 26th. The basic materials company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.14. Eastman Chemical had a net margin of 15.08% and a return on equity of 22.14%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the firm posted $1.83 earnings per share. Eastman Chemical’s revenue for the quarter was up 13.2% compared to the same quarter last year. analysts predict that Eastman Chemical will post 8.57 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 6th. Investors of record on Friday, June 15th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, June 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 29.43%.
EMN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a report on Wednesday, March 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Eastman Chemical in a report on Friday, March 9th. ValuEngine lowered shares of Eastman Chemical from a “strong-buy” rating to a “buy” rating in a report on Monday, April 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $103.00 price objective on shares of Eastman Chemical in a report on Tuesday, April 17th. Finally, KeyCorp increased their price objective on shares of Eastman Chemical from $118.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, April 30th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.20.
In related news, EVP Brad A. Lich sold 12,066 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $105.75, for a total value of $1,275,979.50. Following the completion of the sale, the executive vice president now directly owns 18,997 shares in the company, valued at $2,008,932.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark K. Cox sold 13,100 shares of the firm’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $105.19, for a total value of $1,377,989.00. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.
About Eastman Chemical
Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
Receive News & Ratings for Eastman Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical and related companies with MarketBeat.com's FREE daily email newsletter.