Eastman Chemical (EMN) Receives $97.45 Consensus Target Price from Analysts
Eastman Chemical (NYSE:EMN) has earned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $97.45.
Several research firms have recently weighed in on EMN. Zacks Investment Research downgraded Eastman Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Standpoint Research upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Wednesday, December 26th. Jefferies Financial Group decreased their target price on Eastman Chemical to $91.00 and set a “buy” rating on the stock in a research report on Friday, December 21st. ValuEngine upgraded Eastman Chemical from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 13th. Finally, Stifel Nicolaus began coverage on Eastman Chemical in a research report on Monday, December 10th. They issued a “buy” rating and a $95.00 target price on the stock.
In related news, Director David W. Raisbeck acquired 13,500 shares of Eastman Chemical stock in a transaction that occurred on Friday, December 7th. The shares were purchased at an average price of $73.21 per share, for a total transaction of $988,335.00. Following the completion of the transaction, the director now owns 35,418 shares in the company, valued at approximately $2,592,951.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.18% of the company’s stock.
Shares of EMN opened at $76.70 on Friday. The company has a current ratio of 1.69, a quick ratio of 0.94 and a debt-to-equity ratio of 0.98. Eastman Chemical has a 12 month low of $67.40 and a 12 month high of $112.45. The company 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.
Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 25th. The basic materials company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.05. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.53 billion. Eastman Chemical had a return on equity of 21.18% and a net margin of 16.05%. Research analysts anticipate that Eastman Chemical will post 8.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 4th. Investors of record on Monday, December 17th were given a dividend of $0.62 per share. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Friday, December 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.23%. Eastman Chemical’s dividend payout ratio (DPR) is presently 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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