Citigroup Cuts Eastman Chemical (NYSE:EMN) Price Target to $81.00

Eastman Chemical (NYSE:EMN) had its price target cut by equities research analysts at Citigroup from $85.00 to $81.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective points to a potential upside of 12.54% from the stock’s previous close.

EMN has been the topic of several other research reports. Mizuho set a $85.00 price objective on shares of Eastman Chemical in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $74.00 price objective on shares of Eastman Chemical in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Morgan Stanley cut their price target on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Finally, UBS Group restated a “buy” rating and issued a $92.00 target price on shares of Eastman Chemical in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.83.

Eastman Chemical Trading Up 2.9%

Shares of Eastman Chemical stock traded up $2.02 on Monday, hitting $71.97. 919,222 shares of the company’s stock traded hands, compared to its average volume of 1,465,884. Eastman Chemical has a one year low of $56.11 and a one year high of $83.47. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71. The company has a fifty day moving average of $70.72 and a two-hundred day moving average of $72.17. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 0.90 and a beta of 1.06.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.40 billion. Eastman Chemical had a return on equity of 9.53% and a net margin of 4.99%.The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, sell-side analysts expect that Eastman Chemical will post 6.3 earnings per share for the current year.

Institutional Investors Weigh In On Eastman Chemical

Several institutional investors have recently added to or reduced their stakes in EMN. MUFG Securities EMEA plc bought a new stake in Eastman Chemical in the 2nd quarter worth $25,000. Altshuler Shaham Ltd bought a new stake in shares of Eastman Chemical in the fourth quarter worth about $25,000. Brown Lisle Cummings Inc. increased its holdings in Eastman Chemical by 70.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in Eastman Chemical during the 4th quarter valued at about $27,000. Finally, Los Angeles Capital Management LLC bought a new position in Eastman Chemical during the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.