Eastman Chemical Stock Rating Reaffirmed by Citigroup Inc. (EMN)
Eastman Chemical (NYSE:EMN)‘s stock had its “buy” rating reiterated by investment analysts at Citigroup Inc. in a note issued to investors on Monday, ARN reports. They currently have a $97.00 price target on the stock. Citigroup Inc.’s price target would indicate a potential upside of 12.54% from the company’s current price.
Shares of Eastman Chemical (NYSE:EMN) traded up 1.59% during mid-day trading on Monday, hitting $86.19. The stock had a trading volume of 1,566,187 shares. Eastman Chemical has a one year low of $63.48 and a one year high of $89.19. The stock’s 50-day moving average is $85.85 and its 200-day moving average is $80.84. The company has a market cap of $12.946 billion and a price-to-earnings ratio of 11.47.
Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. Analysts expect that Eastman Chemical will post $6.95 EPS for the current fiscal year.
EMN has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Eastman Chemical from $86.00 to $90.00 in a research note on Monday. They now have an “overweight” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Eastman Chemical from $95.00 to $100.00 in a research note on Monday. They now have a “buy” rating on the stock. They noted that the move was a valuation call. Finally, analysts at UBS AG reiterated a “buy” rating on shares of Eastman Chemical in a research note on Friday. They now have a $96.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Eastman Chemical currently has an average rating of “Buy” and an average price target of $89.92.
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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