Eastman Chemical Company (NYSE:EMN) Receives $78.62 Consensus Price Target from Analysts

Shares of Eastman Chemical Company (NYSE:EMN) have earned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Six 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 objective among analysts that have issued a report on the stock in the last year is $78.6154.

A number of equities analysts have recently commented on EMN shares. Evercore ISI cut their target price on shares of Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Mizuho lowered their price target on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Citigroup raised their price objective on Eastman Chemical from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. KeyCorp set a $79.00 target price on Eastman Chemical and gave the stock an “overweight” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company lowered their target price on Eastman Chemical from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th.

Eastman Chemical Stock Down 4.6%

Shares of NYSE:EMN opened at $57.50 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. Eastman Chemical has a 1 year low of $56.75 and a 1 year high of $107.50. The stock has a market capitalization of $6.56 billion, a P/E ratio of 8.08, a PEG ratio of 6.16 and a beta of 1.31. The stock has a 50-day simple moving average of $62.43 and a 200-day simple moving average of $70.47.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business posted $2.26 EPS. The company’s quarterly revenue was down 10.6% on a year-over-year basis. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Equities analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new stake in Eastman Chemical during the 2nd quarter valued at $25,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Eastman Chemical by 65.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 146 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Eastman Chemical during the second quarter valued at about $32,000. Loomis Sayles & Co. L P purchased a new stake in shares of Eastman Chemical during the second quarter worth about $33,000. Finally, Rothschild Investment LLC lifted its stake in shares of Eastman Chemical by 65.6% in the third quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 229 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

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.