Eastman Chemical Company (NYSE:EMN) shares traded -0.96% lower at $85.58 on Wall Street last session.
In accordance with the data, 23 analysts cover Eastman Chemical Company (NYSE:EMN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $115.00 and a low of $83.00, we find $92.00. Given the previous closing price of $86.41, this indicates a potential upside of 6.47 percent. EMN stock price is now 2.77% away from the 50-day moving average and 2.87% away from the 200-day moving average. The market capitalization of the company currently stands at $10.34B.
It has been rated a hold by 13 analysts and a buy by 9. Brokers who have rated the stock have averaged $94.66 as their price target over the next twelve months.
With the price target of $91, Citigroup recently initiated with Buy rating for Eastman Chemical Company (NYSE: EMN).
In other news, McAlindon Julie A., SVP, Regions & Chf SupChn Ofcr sold 1,900 shares of the company’s stock on Feb 17. The stock was sold for $165,091 at an average price of $86.89. Upon completion of the transaction, the SVP, Regions & Chf SupChn Ofcr now directly owns 2,877 shares in the company, valued at $0.25 million. Insiders disposed of 62,221 shares of company stock worth roughly $5.32 million over the past 1 year. A total of 0.69% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in EMN stock. A new stake in Eastman Chemical Company shares was purchased by EMPOWER ADVISORY GROUP, LLC during the first quarter worth $59,168,000. SEQUOIA FINANCIAL ADVISORS, LLC invested $8,765,000 in shares of EMN during the first quarter. In the first quarter, BROOKFIELD CORP /ON/ acquired a new stake in Eastman Chemical Company valued at approximately $8,012,000. LOMBARD ODIER ASSET MANAGEMENT (USA) CORP acquired a new stake in EMN for approximately $6,419,000. CONCENTRIC CAPITAL STRATEGIES, LP purchased a new stake in EMN valued at around $2,715,000 in the second quarter. In total, there are 945 active investors with 87.80% ownership of the company’s stock.
During the past 12 months, Eastman Chemical Company has had a low of $69.91 and a high of $102.18. As of last week, the company has a debt-to-equity ratio of 1.09, a current ratio of 1.30, and a quick ratio of 0.70. According to the stock market information, the enterprise value for the company is $15.30B, which is based on a 14.60 price-to-earnings ratio, a 1.55 price-to-earnings-growth ratio, and a beta of 1.52. The fifty day moving average price for EMN is $83.37 and a two-hundred day moving average price translates $83.26 for the stock.
The latest earnings results from Eastman Chemical Company (NYSE: EMN) was released for Jun, 2023. According to the Specialty Chemicals Company, earnings per share came in at $1.99, beating analysts’ expectations of $1.93 by 0.06. This compares to $2.03 EPS in the same period last year. The net profit margin was 8.10% and return on equity was 15.10% for EMN. The company reported revenue of $2.32 billion for the quarter, compared to $2.78 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -16.52 percent. For the current quarter, analysts expect EMN to generate $2.61B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/07/2023. Investors who held shares on 06/15/2023 were paid a $0.79 dividend. On an annualized basis, this represents a $3.16 dividend and a 3.69% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, EMN is presently at 47.70%.
Eastman Chemical Company(EMN) Company Profile
Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company’s Additives & Functional Products segment offers hydrocarbon resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins. It serves transportation, personal care, wellness, food, feed, agriculture, building and construction, water treatment, energy, consumables, durables, and electronics markets. Its Advanced Materials segment provides copolyesters, cellulosic biopolymers, cellulose esters, polyvinyl butyral sheets, and window and protective films for value-added end uses in the transportation, durables, electronics, building and construction, medical and pharma, and consumables markets. The company’s Chemical Intermediates segment offers methylamines and salts, and higher amines and solvents; Olefin and acetyl derivatives, ethylene, and commodity solvents; and primary non-phthalate and phthalate plasticizers, and niche non-phthalate plasticizers for industrial chemicals and processing, building and construction, health and wellness, and agrochemicals markets. Its Fibers segment provides cellulose acetate tow, triacetin, cellulose acetate flake, acetic acid, and acetic anhydride for use in filtration media primarily cigarette filters; natural and solution dyed acetate yarns for use in consumables, and health and wellness markets; and wet-laid nonwoven media, specialty and engineered papers, and cellulose acetate fibers for transportation, industrial, agriculture and mining, and aerospace markets. Eastman Chemical Company was founded in 1920 and is headquartered in Kingsport, Tennessee.
