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

Eastman Chemical (NYSE:EMN) is scheduled to issue its quarterly earnings data after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $2.02 per share for the quarter. Eastman Chemical has set its FY 2019 guidance at $7.50-8.00 EPS and its FY19 guidance at $7.50-8.00 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.99 EPS for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.10). The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.55 billion. Eastman Chemical had a return on equity of 17.76% and a net margin of 9.45%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.22 earnings per share. On average, analysts expect Eastman Chemical to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Shares of Eastman Chemical stock opened at $74.23 on Wednesday. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 1.10 and a beta of 1.39. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 0.80. Eastman Chemical has a 52-week low of $61.22 and a 52-week high of $86.18. The stock has a 50-day simple moving average of $71.73 and a 200-day simple moving average of $73.52.

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 3.34%. Eastman Chemical’s dividend payout ratio is 30.24%.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Eastman Chemical from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $88.00 to $80.00 in a report on Monday, July 29th. Zacks Investment Research lowered Eastman Chemical from a “hold” rating to a “sell” rating and set a $78.00 price target for the company. in a report on Tuesday, October 1st. Citigroup set a $78.00 price target on Eastman Chemical and gave the company a “hold” rating in a report on Monday, July 15th. SunTrust Banks reduced their price target on Eastman Chemical from $80.00 to $75.00 and set a “hold” rating for the company in a report on Friday, October 11th. Finally, Wells Fargo & Co assumed coverage on Eastman Chemical in a report on Tuesday, October 15th. They set an “outperform” rating and a $85.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $84.33.

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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Earnings History for Eastman Chemical (NYSE:EMN)

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