Eastman Chemical (EMN) Set to Announce Quarterly Earnings on Thursday

Eastman Chemical (NYSE:EMN) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.43 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. Eastman Chemical’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. On average, analysts expect Eastman Chemical to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Eastman Chemical Trading Up 0.7 %

EMN stock opened at $97.06 on Tuesday. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.07 and a beta of 1.54. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $92.98 and a 200-day simple moving average of $85.93. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $102.71.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a yield of 3.34%. Eastman Chemical’s dividend payout ratio (DPR) is 43.26%.

Insider Buying and Selling

In related news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total transaction of $415,496.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Eastman Chemical from $95.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price objective on shares of Eastman Chemical from $89.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday. Stifel Nicolaus decreased their price objective on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 5th. UBS Group upped their price objective on shares of Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Redburn Atlantic assumed coverage on shares of Eastman Chemical in a research report on Thursday, February 15th. They issued a “buy” rating and a $110.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.81.

About Eastman Chemical

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.