Eastman Chemical Company (NYSE:EMN) Stock Has Average Price Target of $77.69

Shares of Eastman Chemical Company (NYSE:EMN) have been given an average rating of “Hold” by the fifteen ratings firms that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $77.69.

Several equities research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Citigroup dropped their price target on Eastman Chemical from $81.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $75.00 price objective on shares of Eastman Chemical in a report on Thursday, July 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a report on Thursday, August 13th. Finally, Royal Bank Of Canada upped their price objective on Eastman Chemical from $69.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th.

Eastman Chemical Stock Down 1.7%

Shares of NYSE:EMN opened at $62.70 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The stock has a market cap of $7.17 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 0.77 and a beta of 1.06. The business’s 50 day moving average is $69.56 and its 200 day moving average is $71.00. Eastman Chemical has a 52-week low of $56.11 and a 52-week high of $83.47.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Sell-side analysts predict that Eastman Chemical will post 6.43 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 5.4%. The ex-dividend date was Tuesday, September 15th. Eastman Chemical’s payout ratio is 87.50%.

Institutional Trading of Eastman Chemical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Eastman Chemical during the 2nd quarter valued at approximately $1,134,421,000. Dimensional Fund Advisors LP increased its position in Eastman Chemical by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock worth $376,747,000 after buying an additional 338,914 shares during the period. State Street Corp grew its position in Eastman Chemical by 0.7% in the 2nd quarter. State Street Corp now owns 4,169,105 shares of the basic materials company’s stock worth $282,741,000 after purchasing an additional 29,010 shares during the last quarter. Franklin Resources Inc. raised its stake in Eastman Chemical by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company’s stock valued at $237,637,000 after acquiring an additional 20,634 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Eastman Chemical by 39.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock worth $196,552,000 after acquiring an additional 732,693 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman’s portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.