Eastman Chemical (NYSE:EMN) Stock Bumped Up to Hold by Barclays

Barclays upgraded shares of Eastman Chemical (NYSE:EMN) to a hold rating in a report issued on Monday morning,Zacks reports.

Several other research analysts have also commented on the company. Citigroup reduced their price target on Eastman Chemical from $81.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. UBS Group decreased their price objective on Eastman Chemical from $92.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $85.00 price objective on shares of Eastman Chemical in a research report on Friday, September 25th. Morgan Stanley cut their target price on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $75.00 target price on shares of Eastman Chemical in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Eastman Chemical currently has an average rating of “Hold” and a consensus target price of $76.64.

Eastman Chemical Stock Performance

Shares of EMN stock opened at $62.87 on Monday. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.78 and a beta of 1.06. The company’s 50 day moving average is $68.93 and its 200 day moving average is $70.84. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. Eastman Chemical has a 52-week low of $56.11 and a 52-week high of $83.47.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. Eastman Chemical’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, sell-side analysts anticipate that Eastman Chemical will post 6.42 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, September 15th. Eastman Chemical’s dividend payout ratio (DPR) is 87.50%.

Hedge Funds Weigh In On Eastman Chemical

Large investors have recently made changes to their positions in the business. Elevation Wealth Partners LLC acquired a new stake in shares of Eastman Chemical during the third quarter worth about $25,000. Continuum Advisory LLC purchased a new stake in Eastman Chemical in the second quarter valued at approximately $40,000. Altshuler Shaham Ltd increased its holdings in Eastman Chemical by 36.9% in the 1st quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company’s stock worth $41,000 after buying an additional 145 shares during the period. Quantbot Technologies LP acquired a new position in Eastman Chemical in the 2nd quarter worth approximately $44,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Eastman Chemical during the 2nd quarter worth approximately $46,000. 83.65% of the stock is owned by institutional investors and hedge funds.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman’s portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.