Eastman Chemical (NYSE:EMN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Eastman Chemical (NYSE:EMNGet Free Report) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $114.08.

EMN has been the topic of several research analyst reports. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. UBS Group reduced their price objective on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Citigroup lowered Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $118.00 to $104.00 in a research note on Wednesday, December 18th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Finally, Barclays reduced their price objective on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd.

Read Our Latest Stock Analysis on EMN

Eastman Chemical Stock Up 0.5 %

Shares of NYSE EMN opened at $91.03 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. Eastman Chemical has a 52 week low of $86.70 and a 52 week high of $114.50. The stock has a market capitalization of $10.48 billion, a P/E ratio of 11.85, a PEG ratio of 1.22 and a beta of 1.43. The stock’s fifty day moving average is $95.64 and its 200 day moving average is $100.14.

Eastman Chemical (NYSE:EMNGet Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. Sell-side analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.23%.

Hedge Funds Weigh In On Eastman Chemical

A number of hedge funds and other institutional investors have recently made changes to their positions in EMN. Raymond James Financial Inc. acquired a new position in shares of Eastman Chemical in the fourth quarter worth approximately $150,537,000. Capital World Investors acquired a new position in shares of Eastman Chemical in the fourth quarter worth approximately $137,848,000. Norges Bank acquired a new position in shares of Eastman Chemical in the fourth quarter worth approximately $137,416,000. Wealthfront Advisers LLC lifted its stake in shares of Eastman Chemical by 3,136.8% in the fourth quarter. Wealthfront Advisers LLC now owns 736,011 shares of the basic materials company’s stock worth $67,213,000 after acquiring an additional 713,272 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Eastman Chemical by 13.4% in the fourth quarter. Capital Research Global Investors now owns 5,886,564 shares of the basic materials company’s stock worth $537,561,000 after acquiring an additional 697,388 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Company Profile

(Get Free Report

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.

Featured Stories

Analyst Recommendations for Eastman Chemical (NYSE:EMN)

Receive News & Ratings for Eastman Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical and related companies with MarketBeat.com's FREE daily email newsletter.