Eastman Chemical Company (NYSE:EMN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Eastman Chemical Company (NYSE:EMN) have been assigned an average rating of “Moderate Buy” from the fourteen analysts that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $78.7692.

A number of equities analysts have commented on the stock. Mizuho reduced their target price on shares of Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings upgraded shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. Evercore ISI decreased their price objective on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. Royal Bank Of Canada set a $71.00 price objective on Eastman Chemical in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $70.00 target price on shares of Eastman Chemical in a research report on Friday, December 19th.

Institutional Investors Weigh In On Eastman Chemical

A number of institutional investors have recently made changes to their positions in EMN. Norges Bank purchased a new position in shares of Eastman Chemical during the 2nd quarter worth approximately $121,060,000. State Street Corp lifted its stake in Eastman Chemical by 24.3% during the third quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock worth $363,314,000 after purchasing an additional 1,112,391 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Eastman Chemical by 1,011.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 943,975 shares of the basic materials company’s stock worth $58,489,000 after buying an additional 859,046 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Eastman Chemical by 1,456.4% in the second quarter. Qube Research & Technologies Ltd now owns 708,290 shares of the basic materials company’s stock valued at $52,881,000 after buying an additional 662,783 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Eastman Chemical by 576.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 707,304 shares of the basic materials company’s stock valued at $44,596,000 after buying an additional 602,677 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Stock Up 0.8%

Shares of NYSE:EMN opened at $64.32 on Friday. Eastman Chemical has a 52-week low of $56.11 and a 52-week high of $103.82. The stock has a market cap of $7.34 billion, a P/E ratio of 10.74, a PEG ratio of 6.19 and a beta of 1.23. The business has a fifty day moving average of $61.70 and a two-hundred day moving average of $66.38. The company has a quick ratio of 0.86, a current ratio of 1.76 and a debt-to-equity ratio of 0.82.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). Eastman Chemical had a return on equity of 12.89% and a net margin of 7.75%.The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. The firm’s revenue was down 10.6% on a year-over-year basis. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. On average, research analysts expect that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Monday, December 15th will be issued a $0.84 dividend. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.83. The ex-dividend date is Monday, December 15th. This represents a $3.36 annualized dividend and a yield of 5.2%. Eastman Chemical’s payout ratio is presently 56.09%.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.