Eastman Chemical Co. (NYSE:EMN) has received a consensus rating of “Buy” from the seventeen brokerages that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $78.50.

Several research analysts have recently commented on EMN shares. Jefferies Group reissued a “buy” rating and issued a $88.00 price objective on shares of Eastman Chemical in a research note on Friday, July 29th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Eastman Chemical in a research note on Friday, July 29th. Deutsche Bank AG lowered their price objective on shares of Eastman Chemical from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Nomura set a $75.00 target price on shares of Eastman Chemical and gave the company a “buy” rating in a report on Monday, August 1st. Finally, TheStreet cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Friday, July 29th.

A number of institutional investors have recently bought and sold shares of EMN. Washington Trust Bank raised its position in Eastman Chemical by 5.7% in the second quarter. Washington Trust Bank now owns 17,621 shares of the company’s stock worth $1,196,000 after buying an additional 945 shares during the period. Raymond James Trust N.A. raised its position in Eastman Chemical by 5.7% in the second quarter. Raymond James Trust N.A. now owns 13,620 shares of the company’s stock worth $925,000 after buying an additional 729 shares during the period. Park National Corp OH raised its position in Eastman Chemical by 6.5% in the second quarter. Park National Corp OH now owns 3,078 shares of the company’s stock worth $209,000 after buying an additional 189 shares during the period. BNP Paribas Arbitrage SA raised its position in Eastman Chemical by 2.5% in the second quarter. BNP Paribas Arbitrage SA now owns 95,520 shares of the company’s stock worth $6,486,000 after buying an additional 2,326 shares during the period. Finally, First Republic Investment Management Inc. raised its position in Eastman Chemical by 18.5% in the first quarter. First Republic Investment Management Inc. now owns 10,642 shares of the company’s stock worth $769,000 after buying an additional 1,662 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Shares of Eastman Chemical (NYSE:EMN) opened at 75.69 on Thursday. The firm’s 50-day moving average is $69.47 and its 200 day moving average is $69.25. Eastman Chemical has a 52-week low of $56.03 and a 52-week high of $78.79. The stock has a market cap of $11.11 billion, a P/E ratio of 13.08 and a beta of 1.51.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.19. Eastman Chemical had a net margin of 9.53% and a return on equity of 23.59%. The business earned $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the firm posted $1.84 earnings per share. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Analysts forecast that Eastman Chemical will post $6.75 earnings per share for the current fiscal year.

Eastman Chemical Company Profile

Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI).

5 Day Chart for NYSE:EMN

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