Eastman Chemical Company Downgraded to Neutral at SunTrust (EMN)
Eastman Chemical Company (NYSE:EMN) was downgraded by investment analysts at SunTrust from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Eastman Chemical Company (NYSE:EMN) traded up 0.69% on Wednesday, hitting $82.08. The stock had a trading volume of 807,208 shares. Eastman Chemical Company has a 1-year low of $72.62 and a 1-year high of $90.55. The stock’s 50-day moving average is $87.43 and its 200-day moving average is $85.09. The company has a market cap of $12.328 billion and a P/E ratio of 10.68.
Eastman Chemical Company (NYSE:EMN) last issued its quarterly earnings data on Monday, July 28th. The company reported $1.92 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.84 by $0.08. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Eastman Chemical Company will post $6.92 earnings per share for the current fiscal year.
EMN has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Eastman Chemical Company in a research note on Tuesday. They now have a $100.00 price target on the stock. Separately, analysts at KeyCorp reiterated a “buy” rating on shares of Eastman Chemical Company in a research note on Wednesday, July 16th. They now have a $103.00 price target on the stock, up previously from $95.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Eastman Chemical Company in a research note on Tuesday, May 6th. They now have a $90.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $92.40.
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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