Eastman Chemical Company (NYSE:EMN) Receives Average Rating of “Moderate Buy” from Brokerages

Eastman Chemical Company (NYSE:EMN) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $79.1667.

Several equities research analysts have recently commented on EMN shares. Citigroup lowered their price target on shares of Eastman Chemical from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastman Chemical in a research note on Thursday, August 13th. Royal Bank Of Canada lifted their target price on shares of Eastman Chemical from $69.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped their target price 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. Finally, Wells Fargo & Company raised their price target on Eastman Chemical from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th.

Eastman Chemical Trading Up 0.1%

Shares of EMN opened at $74.20 on Monday. The stock’s fifty day simple moving average is $70.56 and its 200-day simple moving average is $72.68. The firm has a market capitalization of $8.49 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06. Eastman Chemical has a 12-month low of $56.11 and a 12-month high of $83.47. 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 (NYSE:EMN) last announced 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. 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 during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company earned $1.60 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, research analysts predict that Eastman Chemical will post 6.5 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.36 annualized dividend and a yield of 4.5%. Eastman Chemical’s dividend payout ratio is presently 87.50%.

Hedge Funds Weigh In On Eastman Chemical

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Eastman Chemical in the second quarter worth $1,134,421,000. HighTower Advisors LLC boosted its position in shares of Eastman Chemical by 3,448.7% during the fourth quarter. HighTower Advisors LLC now owns 1,695,842 shares of the basic materials company’s stock worth $108,246,000 after purchasing an additional 1,648,054 shares in the last quarter. Norges Bank acquired a new position in shares of Eastman Chemical in the 4th quarter valued at $95,621,000. Legal & General Group Plc acquired a new position in shares of Eastman Chemical in the 2nd quarter valued at $87,583,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Eastman Chemical in the 2nd quarter valued at $81,645,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.