Eastman Chemical (EMN) Set to Announce Earnings on Thursday

Eastman Chemical (NYSE:EMNGet Free Report) will be releasing its earnings data after the market closes on Thursday, February 1st. Analysts expect Eastman Chemical to post earnings of $1.28 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Eastman Chemical Stock Up 1.3 %

Shares of Eastman Chemical stock opened at $85.09 on Wednesday. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 1.39 and a beta of 1.53. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.36 and a quick ratio of 0.71. Eastman Chemical has a 52-week low of $68.89 and a 52-week high of $92.21. The stock has a 50-day simple moving average of $86.51 and a 200-day simple moving average of $82.04.

Eastman Chemical Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Monday, December 18th were issued a $0.81 dividend. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.79. This represents a $3.24 annualized dividend and a yield of 3.81%. The ex-dividend date was Friday, December 15th. Eastman Chemical’s payout ratio is 66.26%.

Analyst Upgrades and Downgrades

EMN has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on Eastman Chemical from $82.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Wednesday, December 13th. JPMorgan Chase & Co. upgraded Eastman Chemical from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a report on Monday, October 30th. Barclays reduced their target price on Eastman Chemical from $90.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Finally, KeyCorp lifted their price target on Eastman Chemical from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eastman Chemical presently has an average rating of “Hold” and an average price target of $91.21.

Read Our Latest Report on EMN

Institutional Trading of Eastman Chemical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Planning Group LLC bought a new stake in Eastman Chemical in the second quarter valued at $33,000. Money Concepts Capital Corp grew its position in Eastman Chemical by 435.0% in the fourth quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 348 shares during the period. Point72 Asset Management L.P. acquired a new position in Eastman Chemical in the fourth quarter worth $37,000. Harbour Investments Inc. boosted its stake in Eastman Chemical by 164.6% in the fourth quarter. Harbour Investments Inc. now owns 463 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 288 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Eastman Chemical by 66.5% in the first quarter. Parkside Financial Bank & Trust now owns 521 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 208 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.

About Eastman Chemical

(Get Free Report)

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

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Earnings History for Eastman Chemical (NYSE:EMN)

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