Research Analysts’ Weekly Ratings Changes for Eastman Chemical (EMN)

A number of firms have modified their ratings and price targets on shares of Eastman Chemical (NYSE: EMN) recently:

• 11/22/2024 – Eastman Chemical had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $105.00 price target on the stock.
• 11/14/2024 – Eastman Chemical was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/6/2024 – Eastman Chemical had its price target lowered by analysts at Royal Bank of Canada from $107.00 to $105.00. They now have a “sector perform” rating on the stock.
• 11/6/2024 – Eastman Chemical was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/4/2024 – Eastman Chemical had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $110.00. They now have a “hold” rating on the stock.
• 11/4/2024 – Eastman Chemical had its price target lowered by analysts at Wells Fargo & Company from $118.00 to $110.00. They now have an “equal weight” rating on the stock.
• 11/1/2024 – Eastman Chemical had its price target raised by analysts at Mizuho from $107.00 to $113.00. They now have a “neutral” rating on the stock.
• 10/16/2024 – Eastman Chemical was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $119.00 price target on the stock, up previously from $114.00.
• 10/15/2024 – Eastman Chemical had its price target raised by analysts at Wells Fargo & Company from $105.00 to $118.00. They now have an “equal weight” rating on the stock.
• 10/11/2024 – Eastman Chemical had its price target raised by analysts at Royal Bank of Canada from $100.00 to $107.00. They now have a “sector perform” rating on the stock.

Eastman Chemical Price Performance

Shares of EMN traded up $0.26 during mid-day trading on Monday, reaching $105.85. The company had a trading volume of 1,092,517 shares, compared to its average volume of 959,252. The company’s 50 day simple moving average is $106.43 and its 200 day simple moving average is $101.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.81 and a beta of 1.44. Eastman Chemical has a 1-year low of $80.71 and a 1-year high of $114.50.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.47 earnings per share. Analysts expect that Eastman Chemical will post 7.63 EPS for the current year.

Insider Transactions at Eastman Chemical

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of Eastman Chemical stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total transaction of $321,405.00. Following the sale, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Eastman Chemical

A number of hedge funds and other institutional investors have recently bought and sold shares of EMN. CANADA LIFE ASSURANCE Co increased its holdings in shares of Eastman Chemical by 1.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 40,996 shares of the basic materials company’s stock valued at $4,110,000 after buying an additional 457 shares in the last quarter. EntryPoint Capital LLC bought a new position in Eastman Chemical during the first quarter worth $38,000. Price T Rowe Associates Inc. MD grew its position in shares of Eastman Chemical by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 159,474 shares of the basic materials company’s stock valued at $15,983,000 after purchasing an additional 750 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Eastman Chemical by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 50,934 shares of the basic materials company’s stock worth $5,105,000 after buying an additional 1,245 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Eastman Chemical during the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.