Eastman Chemical Co. Sets New 1-Year High at $82.96 (EMN)
Shares of Eastman Chemical (NYSE:EMN) hit a new 52-week high on Wednesday, AnalystRatingsNetwork reports. The company traded as high as $82.96 and last traded at $82.60, with a volume of 1,040,628 shares trading hands. The stock had previously closed at $82.55.
Several analysts have recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Eastman Chemical from $75.00 to $88.00 in a research note to investors on Thursday, September 5th. They now have an “outperform” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Eastman Chemical from $75.00 to $88.00 in a research note to investors on Thursday, September 5th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Eastman Chemical from $79.00 to $84.00 in a research note to investors on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Eastman Chemical currently has a consensus rating of “Buy” and an average target price of $84.86.
Eastman Chemical has a 1-year low of $52.93 and a 1-year high of $82.91. The stock’s 50-day moving average is $78.45 and its 200-day moving average is $72.65. The company has a market cap of $12.735 billion and a price-to-earnings ratio of 21.22.
Eastman Chemical (NYSE:EMN) last announced its earnings results on Monday, July 29th. The company reported $1.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.64 by $0.16. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the company posted $1.40 earnings per share. Eastman Chemical’s revenue was up 31.7% compared to the same quarter last year. Analysts expect that Eastman Chemical will post $6.48 EPS for the current fiscal year.
Eastman Chemical Company (NYSE:EMN) is a global specialty chemicals company that produces a range of advanced materials, chemicals and fibers that are found in products people use every day.
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