Analysts Expect Eastman Chemical (EMN) to Post $1.96 EPS

Wall Street analysts forecast that Eastman Chemical (NYSE:EMN) will report earnings of $1.96 per share for the current quarter, Zacks reports. Three analysts have made estimates for Eastman Chemical’s earnings, with the lowest EPS estimate coming in at $1.90 and the highest estimate coming in at $2.03. Eastman Chemical posted earnings per share of $2.23 in the same quarter last year, which would indicate a negative year over year growth rate of 12.1%. The company is scheduled to report its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Eastman Chemical will report full-year earnings of $8.75 per share for the current financial year, with EPS estimates ranging from $8.60 to $8.95. For the next financial year, analysts forecast that the company will report earnings of $9.84 per share, with EPS estimates ranging from $9.48 to $10.52. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Eastman Chemical.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, January 31st. The basic materials company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.21). The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.42 billion. Eastman Chemical had a return on equity of 20.15% and a net margin of 10.64%.



EMN has been the subject of several recent analyst reports. ValuEngine raised Eastman Chemical from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 13th. Cowen cut Eastman Chemical from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $94.00 to $88.00 in a research note on Wednesday, February 6th. Zacks Investment Research raised Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Jefferies Financial Group decreased their price target on Eastman Chemical to $91.00 and set a “buy” rating for the company in a research note on Friday, December 21st. Finally, SunTrust Banks increased their price target on Eastman Chemical to $88.00 and gave the stock a “hold” rating in a research note on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $92.90.

Hedge funds have recently made changes to their positions in the stock. CSat Investment Advisory L.P. boosted its stake in Eastman Chemical by 125.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 349 shares of the basic materials company’s stock valued at $26,000 after buying an additional 194 shares in the last quarter. JNBA Financial Advisors acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $28,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $28,000. Moody National Bank Trust Division acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $29,000. Finally, Capital Financial Planning LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $29,000. 81.12% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical stock traded down $0.87 during midday trading on Friday, hitting $78.76. 1,131,433 shares of the company were exchanged, compared to its average volume of 1,183,659. The firm has a market capitalization of $11.35 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.82. Eastman Chemical has a fifty-two week low of $67.40 and a fifty-two week high of $110.17.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, March 14th. This represents a $2.48 annualized dividend and a yield of 3.15%. Eastman Chemical’s dividend payout ratio is currently 30.24%.

Eastman Chemical Company Profile

Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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