Eastman Chemical Company (NYSE:EMN) – Stock analysts at KeyCorp lowered their Q4 2017 EPS estimates for Eastman Chemical in a research report issued on Sunday. KeyCorp analyst M. Sison now expects that the basic materials company will earn $1.50 per share for the quarter, down from their previous estimate of $1.74. KeyCorp currently has a “Buy” rating and a $108.00 price objective on the stock. KeyCorp also issued estimates for Eastman Chemical’s FY2018 earnings at $8.10 EPS.

A number of other research firms have also recently issued reports on EMN. Zacks Investment Research upgraded Eastman Chemical from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. UBS AG increased their target price on Eastman Chemical from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, October 27th. BidaskClub cut Eastman Chemical from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Deutsche Bank AG increased their target price on Eastman Chemical from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, J P Morgan Chase & Co increased their target price on Eastman Chemical from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $96.00.

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Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, October 26th. The basic materials company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.16. Eastman Chemical had a return on equity of 23.20% and a net margin of 10.89%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year.

Large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in Eastman Chemical by 149.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,377 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 826 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in Eastman Chemical by 1,500.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 1,500 shares during the last quarter. M&R Capital Management Inc. lifted its stake in Eastman Chemical by 62.9% in the 2nd quarter. M&R Capital Management Inc. now owns 1,812 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 700 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Eastman Chemical in the 2nd quarter valued at about $160,000. Finally, Advisory Services Network LLC lifted its stake in Eastman Chemical by 105.3% in the 2nd quarter. Advisory Services Network LLC now owns 2,203 shares of the basic materials company’s stock valued at $185,000 after purchasing an additional 1,130 shares during the last quarter. Institutional investors and hedge funds own 82.76% of the company’s stock.

In related news, Director Renee J. Hornbaker sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $84.43, for a total value of $337,720.00. Following the completion of the sale, the director now directly owns 21,858 shares in the company, valued at approximately $1,845,470.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Perry Stuckey sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total transaction of $479,024.00. The disclosure for this sale can be found here. Company 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.

Earnings History and Estimates for Eastman Chemical (NYSE:EMN)

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