Eastman Chemical (NYSE:EMN) has earned a consensus rating of “Hold” from the fourteen analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $89.50.

A number of brokerages have weighed in on EMN. Nomura upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $89.00 to $93.00 in a research report on Monday, April 15th. KeyCorp decreased their price objective on shares of Eastman Chemical from $95.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Zacks Investment Research downgraded shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Cowen downgraded shares of Eastman Chemical from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $94.00 to $88.00 in a research report on Wednesday, February 6th. Finally, Standpoint Research downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st.

Shares of Eastman Chemical stock traded up $1.67 during trading hours on Thursday, reaching $71.72. The stock had a trading volume of 937,512 shares, compared to its average volume of 1,196,946. The company has a market cap of $9.93 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 0.95 and a beta of 1.14. Eastman Chemical has a twelve month low of $67.40 and a twelve month high of $110.17. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.79 and a current ratio of 1.51.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.14). The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.61 billion. Eastman Chemical had a return on equity of 18.60% and a net margin of 10.07%. The company’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the company posted $2.23 EPS. Equities research analysts forecast that Eastman Chemical will post 8.57 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.46%. Eastman Chemical’s dividend payout ratio is currently 30.24%.

Hedge funds have recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. increased its stake in shares of Eastman Chemical by 125.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 349 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 194 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Eastman Chemical during the first quarter worth about $27,000. JNBA Financial Advisors purchased a new stake in shares of Eastman Chemical during the fourth quarter worth about $28,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of Eastman Chemical during the fourth quarter worth about $28,000. Finally, Capital Financial Planning LLC purchased a new stake in shares of Eastman Chemical during the fourth quarter worth about $29,000. 84.25% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Company Profile

Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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