Eastman Chemical Given Consensus Rating of “Buy” by Analysts (NYSE:EMN)
Eastman Chemical (NYSE:EMN) has received a consensus rating of “Buy” from the fourteen ratings firms that are covering the company, AnalystRatings.NET reports. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $87.00.
Several analysts have recently commented on the stock. Analysts at Barclays raised their price target on shares of Eastman Chemical from $84.00 to $89.00 in a research note on Tuesday. They now have an “equal weight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Eastman Chemical in a research note on Thursday, February 6th. They now have a $82.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Eastman Chemical in a research note on Friday, January 31st. They now have a $95.00 price target on the stock.
Shares of Eastman Chemical (NYSE:EMN) traded up 1.63% during mid-day trading on Wednesday, hitting $81.11. 317,838 shares of the company’s stock traded hands. Eastman Chemical has a 52-week low of $63.48 and a 52-week high of $82.96. The stock’s 50-day moving average is $78.36 and its 200-day moving average is $77.99. The company has a market cap of $12.369 billion and a P/E ratio of 10.73.
Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.25 by $0.09. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. Analysts expect that Eastman Chemical will post $6.88 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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