Eastman Chemical Sets New 12-Month High at $85.11 (EMN)
Eastman Chemical (NYSE:EMN) reached a new 52-week high on Monday , American Banking News reports. The stock traded as high as $85.11 and last traded at $84.75, with a volume of 1,135,134 shares. The stock had previously closed at $84.34.
A number of research firms have recently commented on EMN. Analysts at Barclays raised their price target on shares of Eastman Chemical from $84.00 to $89.00 in a research note on Tuesday, February 11th. 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $87.00.
The stock has a 50-day moving average of $79.02 and a 200-day moving average of $78.0. The company has a market cap of $12.824 billion and a price-to-earnings ratio of 11.34.
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.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, March 12th.
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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