Shares of Eastman Chemical (NYSE:EMN) have been assigned a consensus recommendation of “Hold” from the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $97.45.
A number of equities analysts have recently issued reports on EMN shares. KeyCorp dropped their price target on Eastman Chemical from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, October 29th. Standpoint Research upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Wednesday, December 26th. Stifel Nicolaus began coverage on Eastman Chemical in a research note on Monday, December 10th. They set a “buy” rating and a $95.00 price objective for the company. Zacks Investment Research upgraded Eastman Chemical from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research note on Wednesday, October 3rd. Finally, JPMorgan Chase & Co. upgraded Eastman Chemical from a “neutral” rating to an “overweight” rating in a research note on Friday, October 12th.
In related news, Director David W. Raisbeck acquired 13,500 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The stock was purchased at an average cost of $73.21 per share, for a total transaction of $988,335.00. Following the purchase, the director now directly owns 35,418 shares of the company’s stock, valued at approximately $2,592,951.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.18% of the company’s stock.
Shares of Eastman Chemical stock opened at $76.70 on Friday. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.94 and a current ratio of 1.69. Eastman Chemical has a 52 week low of $67.40 and a 52 week high of $112.45.
Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, October 25th. The basic materials company reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.05. Eastman Chemical had a return on equity of 21.18% and a net margin of 16.05%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.53 billion. On average, equities analysts expect that Eastman Chemical will post 8.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 4th. Investors of record on Monday, December 17th were paid a dividend of $0.62 per share. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.56. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, December 14th. Eastman Chemical’s dividend payout ratio is 32.59%.
Eastman Chemical Company Profile
Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
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