Eastman Chemical Company Given Average Recommendation of “Buy” by Brokerages (NYSE:EMN)
Eastman Chemical Company (NYSE:EMN) has been given a consensus recommendation of “Buy” by the thirteen brokerages that are covering the company, Stock Ratings News reports. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $91.36.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Eastman Chemical Company in a research note on Tuesday, August 5th. They now have a $83.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Eastman Chemical Company in a research note on Wednesday, July 30th. They now have a $96.00 price target on the stock, down previously from $97.00. Finally, analysts at SunTrust downgraded shares of Eastman Chemical Company from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $89.00 price target on the stock, down previously from $101.00.
Eastman Chemical Company (NYSE:EMN) opened at 81.90 on Tuesday. Eastman Chemical Company has a 52 week low of $72.62 and a 52 week high of $90.55. The stock has a 50-day moving average of $83.45 and a 200-day moving average of $85.45. The company has a market cap of $12.210 billion and a P/E ratio of 10.73.
Eastman Chemical Company (NYSE:EMN) last issued its quarterly earnings data on Monday, July 28th. The company reported $1.92 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.80 earnings per share. Eastman Chemical Company’s revenue was up .8% compared to the same quarter last year. On average, analysts predict that Eastman Chemical Company will post $6.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, September 11th.
Eastman Chemical Company 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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