Eastman Chemical Company (NYSE:EMN) Stock Has Average Target Price of $77.69

Shares of Eastman Chemical Company (NYSE:EMN) have been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $77.69.

EMN has been the topic of several recent research reports. Mizuho decreased their price target on shares of Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, October 1st. Royal Bank Of Canada raised their price objective on Eastman Chemical from $69.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. KeyCorp started coverage on Eastman Chemical in a report on Thursday, September 10th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Eastman Chemical in a research note on Thursday, July 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $85.00 target price on shares of Eastman Chemical in a report on Friday, September 25th.

Institutional Investors Weigh In On Eastman Chemical

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Eastman Chemical in the 2nd quarter valued at approximately $1,134,421,000. Dimensional Fund Advisors LP grew its position in Eastman Chemical by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock worth $376,747,000 after purchasing an additional 338,914 shares during the last quarter. State Street Corp lifted its position in shares of Eastman Chemical by 0.7% in the 2nd quarter. State Street Corp now owns 4,169,105 shares of the basic materials company’s stock worth $282,741,000 after acquiring an additional 29,010 shares during the period. Franklin Resources Inc. increased its stake in Eastman Chemical by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company’s stock valued at $237,637,000 after acquiring an additional 20,634 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Eastman Chemical by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock valued at $196,552,000 after purchasing an additional 732,693 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Price Performance

NYSE EMN opened at $63.75 on Tuesday. Eastman Chemical has a 12 month low of $56.11 and a 12 month high of $83.47. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. The firm has a market capitalization of $7.29 billion, a PE ratio of 16.60, a P/E/G ratio of 0.78 and a beta of 1.06. The company’s 50 day simple moving average is $69.70 and its 200 day simple moving average is $71.06.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, equities research analysts forecast that Eastman Chemical will post 6.47 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

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

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.