Eastman Chemical (NYSE:EMN) Given News Sentiment Score of 0.18
Press coverage about Eastman Chemical (NYSE:EMN) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Eastman Chemical earned a news impact score of 0.18 on Accern’s scale. Accern also assigned news articles about the basic materials company an impact score of 46.414373342932 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s rankings:
- Insider Trading at Eastman Chemical Company? (elcumanes.com)
- Eastman Chemical Company (NYSE:EMN) Position Decreased by Janus Capital Management LLC (overnewsmagazine.com)
- Norges Bank Sells A Lot More Eastman Chemical Company (EMN) Stock Last Quarter – Modern Readers (modernreaders.com)
- Brokerages Expect Eastman Chemical Company (NYSE:EMN) Will Post Quarterly Sales of $2.39 Billion (americanbankingnews.com)
- Eastman Chemical Company (NYSE:EMN) Insider Mark K. Cox Sells 1,400 Shares (americanbankingnews.com)
Shares of Eastman Chemical (NYSE:EMN) traded down 1.20% during midday trading on Thursday, hitting $83.25. 1,003,926 shares of the stock were exchanged. Eastman Chemical has a 1-year low of $62.70 and a 1-year high of $86.60. The stock’s 50-day moving average price is $84.40 and its 200-day moving average price is $80.85. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 13.36 and a beta of 1.28.
Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a return on equity of 24.75% and a net margin of 12.15%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.68 EPS. On average, analysts forecast that Eastman Chemical will post $7.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.45%. Eastman Chemical’s payout ratio is 32.28%.
A number of equities analysts have commented on EMN shares. Zacks Investment Research raised shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Monday, May 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $92.00 price objective on shares of Eastman Chemical in a research report on Wednesday, June 21st. BidaskClub raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Eastman Chemical in a research report on Wednesday, July 5th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $88.00 price objective on shares of Eastman Chemical in a research report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Eastman Chemical has a consensus rating of “Buy” and an average price target of $89.89.
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In other news, Director Lewis M. Kling sold 4,000 shares of the 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 transaction, the director now owns 15,693 shares in the company, valued at approximately $1,253,556.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark K. Cox sold 1,400 shares of the stock in a transaction on Thursday, August 3rd. The stock was 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. 1.14% of the stock is currently owned by corporate insiders.
Eastman Chemical Company Profile
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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