Analysts Expect Eastman Chemical (NYSE:EMN) to Post $1.37 EPS

Wall Street brokerages forecast that Eastman Chemical (NYSE:EMN) will report earnings of $1.37 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Eastman Chemical’s earnings, with the lowest EPS estimate coming in at $1.29 and the highest estimate coming in at $1.45. Eastman Chemical reported earnings per share of $1.39 during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.4%. The company is expected to issue its next quarterly earnings report on Thursday, January 30th.

On average, analysts expect that Eastman Chemical will report full-year earnings of $7.07 per share for the current fiscal year, with EPS estimates ranging from $7.00 to $7.15. For the next year, analysts anticipate that the firm will report earnings of $7.77 per share, with EPS estimates ranging from $7.50 to $8.00. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Eastman Chemical.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.04). Eastman Chemical had a net margin of 8.12% and a return on equity of 16.58%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company posted $2.34 EPS. The firm’s revenue was down 8.7% on a year-over-year basis.

A number of equities research analysts recently weighed in on EMN shares. UBS Group set a $89.00 price target on Eastman Chemical and gave the company a “buy” rating in a research note on Friday, October 25th. ValuEngine upgraded Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co started coverage on Eastman Chemical in a research note on Tuesday, October 15th. They issued an “outperform” rating and a $85.00 price target on the stock. Zacks Investment Research cut Eastman Chemical from a “hold” rating to a “sell” rating and set a $78.00 price target on the stock. in a research note on Tuesday, October 1st. Finally, SunTrust Banks increased their price objective on Eastman Chemical to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $83.85.

A number of hedge funds have recently bought and sold shares of the business. Resources Management Corp CT ADV bought a new position in Eastman Chemical during the 3rd quarter worth $110,000. Man Group plc increased its position in shares of Eastman Chemical by 68.4% in the third quarter. Man Group plc now owns 121,952 shares of the basic materials company’s stock worth $9,003,000 after purchasing an additional 49,517 shares during the period. Squarepoint Ops LLC increased its position in shares of Eastman Chemical by 49.1% in the third quarter. Squarepoint Ops LLC now owns 158,376 shares of the basic materials company’s stock worth $11,693,000 after purchasing an additional 52,190 shares during the period. National Pension Service increased its position in shares of Eastman Chemical by 5.3% in the third quarter. National Pension Service now owns 212,758 shares of the basic materials company’s stock worth $15,708,000 after purchasing an additional 10,736 shares during the period. Finally, Balentine LLC increased its position in shares of Eastman Chemical by 6,363.6% in the third quarter. Balentine LLC now owns 1,422 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 79.86% of the company’s stock.

EMN traded up $2.89 during trading hours on Friday, reaching $79.92. The company’s stock had a trading volume of 97,496 shares, compared to its average volume of 903,145. Eastman Chemical has a 52 week low of $61.22 and a 52 week high of $86.18. The company’s 50-day moving average is $78.43 and its 200-day moving average is $73.47. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 1.65. The firm has a market cap of $10.53 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.39.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be given a dividend of $0.66 per share. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 13th. This represents a $2.64 annualized dividend and a yield of 3.30%. Eastman Chemical’s dividend payout ratio (DPR) is presently 30.24%.

About Eastman Chemical

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

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