Eastman Chemical (NYSE:EMN) Receives $108.07 Average Target Price from Analysts

Eastman Chemical (NYSE:EMN) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $108.07.

Several analysts recently issued reports on the company. Mizuho boosted their price target on Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays boosted their target price on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Finally, Piper Sandler restated a “neutral” rating and set a $105.00 target price on shares of Eastman Chemical in a research report on Tuesday, July 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lcnb Corp boosted its stake in shares of Eastman Chemical by 1.7% in the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock valued at $629,000 after purchasing an additional 103 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in Eastman Chemical by 2.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock valued at $394,000 after buying an additional 111 shares in the last quarter. Prosperity Consulting Group LLC grew its stake in shares of Eastman Chemical by 4.8% during the second quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock worth $261,000 after buying an additional 123 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Eastman Chemical by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company’s stock worth $147,000 after buying an additional 128 shares during the last quarter. Finally, IFG Advisory LLC increased its holdings in shares of Eastman Chemical by 0.9% during the second quarter. IFG Advisory LLC now owns 15,438 shares of the basic materials company’s stock worth $1,513,000 after buying an additional 137 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

NYSE EMN opened at $106.63 on Monday. The stock has a market cap of $12.54 billion, a PE ratio of 13.74, a P/E/G ratio of 0.75 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40. The firm has a 50-day moving average of $99.46 and a 200-day moving average of $98.37. Eastman Chemical has a 52-week low of $68.89 and a 52-week high of $108.81.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.14. Eastman Chemical had a net margin of 9.65% and a return on equity of 13.94%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business posted $1.99 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Eastman Chemical will post 7.66 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.24 annualized dividend and a dividend yield of 3.04%. Eastman Chemical’s dividend payout ratio is currently 41.75%.

Eastman Chemical Company Profile

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.