Eastman Chemical (EMN) Price Target Lowered to $94.00 at KeyCorp

Eastman Chemical (NYSE:EMN) had its target price cut by KeyCorp from $95.00 to $94.00 in a research report sent to investors on Friday morning, Stock Target Advisor reports. They currently have an overweight rating on the basic materials company’s stock. KeyCorp also issued estimates for Eastman Chemical’s Q1 2019 earnings at $1.85 EPS, FY2019 earnings at $8.60 EPS and FY2020 earnings at $9.40 EPS.

EMN has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Eastman Chemical from a sell rating to a hold rating in a research report on Tuesday, March 26th. ValuEngine upgraded shares of Eastman Chemical from a strong sell rating to a sell rating in a research report on Thursday, December 13th. Morgan Stanley upgraded shares of Eastman Chemical from an equal weight rating to an overweight rating and set a $90.00 price target on the stock in a research report on Thursday, January 17th. Cowen downgraded shares of Eastman Chemical from an outperform rating to a market perform rating and dropped their price target for the stock from $94.00 to $88.00 in a research report on Wednesday, February 6th. Finally, Standpoint Research downgraded shares of Eastman Chemical from a buy rating to a hold rating in a research report on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $91.30.

Shares of NYSE EMN opened at $83.94 on Friday. The company has a market capitalization of $11.34 billion, a PE ratio of 10.24, a PEG ratio of 1.07 and a beta of 1.14. Eastman Chemical has a 52-week low of $67.40 and a 52-week high of $110.17. 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 (NYSE:EMN) last issued its quarterly earnings results on Thursday, January 31st. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.21). The firm had revenue of $2.38 billion during 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%. On average, equities research analysts expect that Eastman Chemical will post 8.76 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.95%. Eastman Chemical’s payout ratio is presently 30.24%.

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in shares of Eastman Chemical by 47.1% during the 4th quarter. Victory Capital Management Inc. now owns 3,260,797 shares of the basic materials company’s stock valued at $238,397,000 after acquiring an additional 1,043,805 shares during the period. Valley National Advisers Inc. acquired a new position in shares of Eastman Chemical during the 4th quarter valued at $230,000. Sowell Financial Services LLC lifted its position in shares of Eastman Chemical by 9.5% during the 4th quarter. Sowell Financial Services LLC now owns 6,188 shares of the basic materials company’s stock valued at $452,000 after acquiring an additional 539 shares during the period. Garrison Financial Corp lifted its position in shares of Eastman Chemical by 3.5% during the 4th quarter. Garrison Financial Corp now owns 40,531 shares of the basic materials company’s stock valued at $2,743,000 after acquiring an additional 1,367 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. lifted its position in shares of Eastman Chemical by 1.2% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 67,826 shares of the basic materials company’s stock valued at $6,492,000 after acquiring an additional 815 shares during the period. Institutional investors own 82.91% of the company’s stock.

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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Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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