Eastman Chemical (EMN) Receiving Somewhat Favorable Press Coverage, Study Finds
Media coverage about Eastman Chemical (NYSE:EMN) has trended somewhat positive recently, according to Accern. Accern identifies positive and negative news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Eastman Chemical earned a news impact score of 0.16 on Accern’s scale. Accern also gave media headlines about the basic materials company an impact score of 46.140209783271 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the news stories that may have effected Accern’s analysis:
- Market Scope: Tracking Shares of Eastman Chemical Company (NYSE:EMN) – Jonesboro Recorder (jonesbororecorder.com)
- Eastman Chemical Company (EMN) 5.20% off from 200- SMA – Voice Of Analysts (analystsbuzz.com)
- Eastman Chemical Co. – Value Analysis (NYSE:EMN) : August 14, 2017 (finance.yahoo.com)
- Edgepoint Investment Group Inc. Significantly Decreases Its Stake in Eastman Chemical Company (EMN) Last Quarter – Modern Readers (modernreaders.com)
- Forward Management LLC Sells 347 Shares of Eastman Chemical Company (EMN) (joshnaijablog.com)
Shares of Eastman Chemical (EMN) opened at 84.84 on Wednesday. Eastman Chemical has a 52 week low of $62.70 and a 52 week high of $86.60. The company has a 50-day moving average price of $84.47 and a 200 day moving average price of $81.00. The stock has a market capitalization of $12.29 billion, a PE ratio of 13.62 and a beta of 1.28.
Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a return on equity of 22.54% and a net margin of 10.11%. Eastman Chemical’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 EPS. Equities analysts forecast that Eastman Chemical will post $7.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, September 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 32.28%.
A number of equities analysts recently commented on the company. Cowen and Company upped their target price on Eastman Chemical from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Zacks Investment Research downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Citigroup Inc. upped their target price on Eastman Chemical from $81.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, July 12th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Eastman Chemical in a report on Tuesday, July 11th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Eastman Chemical has a consensus rating of “Buy” and an average target price of $89.89.
In other Eastman Chemical news, Director Lewis M. Kling sold 4,000 shares of Eastman Chemical stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $79.88, for a total transaction of $319,520.00. Following the completion of the sale, the director now directly owns 15,693 shares of the company’s stock, valued at approximately $1,253,556.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark K. Cox sold 1,400 shares of Eastman Chemical stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $84.24, for a total value of $117,936.00. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
About Eastman Chemical
Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.
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