Eastman Chemical (EMN) to Release Earnings on Thursday

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

Eastman Chemical (NYSE:EMN) last announced its earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the company 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 Down 0.3 %

EMN opened at $96.79 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $11.38 billion, a PE ratio of 12.92, a PEG ratio of 1.07 and a beta of 1.54. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71. The firm has a 50-day moving average price of $92.98 and a two-hundred day moving average price of $85.93.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical’s payout ratio is presently 43.26%.

Insider Buying and Selling

In related news, SVP Adrian James Holt sold 4,735 shares of Eastman Chemical stock in a transaction that occurred on 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 accessible through this hyperlink. 2.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Royal Bank of Canada raised 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, April 19th. Citigroup raised 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. UBS Group raised 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. KeyCorp raised their price objective on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Finally, Wells Fargo & Company lifted their price target on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average 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.