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

Analysts expect Eastman Chemical (NYSE:EMN) to announce earnings of $1.96 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Eastman Chemical’s earnings, with the highest EPS estimate coming in at $2.03 and the lowest estimate coming in at $1.90. Eastman Chemical reported earnings per share of $2.23 in the same quarter last year, which suggests a negative year over year growth rate of 12.1%. The company is expected to report its next earnings results on Thursday, April 25th.

On average, analysts expect that Eastman Chemical will report full-year earnings of $8.75 per share for the current year, with EPS estimates ranging from $8.60 to $8.95. For the next year, analysts forecast that the firm will post 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 analysts that follow Eastman Chemical.

Eastman Chemical (NYSE:EMN) last released 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). Eastman Chemical had a return on equity of 20.22% and a net margin of 10.64%. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.42 billion.

A number of equities analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Eastman Chemical from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, October 29th. Zacks Investment Research raised shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. ValuEngine raised shares of Eastman Chemical from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 13th. SunTrust Banks decreased their price target on shares of Eastman Chemical from $95.00 to $83.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Finally, Nomura decreased their price target on shares of Eastman Chemical from $99.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Eastman Chemical presently has an average rating of “Hold” and a consensus price target of $94.91.

EMN stock opened at $81.16 on Thursday. Eastman Chemical has a 1 year low of $67.40 and a 1 year high of $112.45. The stock has a market capitalization of $11.08 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.04 and a beta of 1.20. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 0.98.

In other Eastman Chemical news, Director David W. Raisbeck acquired 13,500 shares of the business’s stock in a transaction on Friday, December 7th. The shares were acquired at an average price of $73.21 per share, for a total transaction of $988,335.00. Following the completion of the acquisition, the director now owns 35,418 shares in the company, valued at $2,592,951.78. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. First Midwest Bank Trust Division grew its holdings in Eastman Chemical by 19.7% in the third quarter. First Midwest Bank Trust Division now owns 10,131 shares of the basic materials company’s stock worth $970,000 after purchasing an additional 1,666 shares during the period. Wright Investors Service Inc. purchased a new stake in Eastman Chemical in the third quarter worth about $302,000. Lowe Brockenbrough & Co. Inc. grew its holdings in Eastman Chemical by 1.2% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 67,826 shares of the basic materials company’s stock worth $6,492,000 after purchasing an additional 815 shares during the period. Commonwealth Bank of Australia grew its holdings in Eastman Chemical by 10.8% in the third quarter. Commonwealth Bank of Australia now owns 19,437 shares of the basic materials company’s stock worth $1,856,000 after purchasing an additional 1,900 shares during the period. Finally, Perella Weinberg Partners Capital Management LP purchased a new stake in Eastman Chemical in the fourth quarter worth about $828,000. Institutional investors and hedge funds own 85.03% 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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