Eastman Chemical (NYSE:EMN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Eastman Chemical (NYSE:EMN) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other research firms also recently commented on EMN. Morgan Stanley cut their price objective on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Royal Bank Of Canada boosted 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $74.00 price target on shares of Eastman Chemical in a research report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a research note on Thursday, August 13th. Finally, Citigroup lowered their price objective on shares of Eastman Chemical from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $79.17.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $66.99 on Friday. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.84 and a beta of 1.07. The business has a 50-day moving average of $70.71 and a 200-day moving average of $71.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. Eastman Chemical has a fifty-two week low of $56.11 and a fifty-two week high of $83.47.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.15. The business 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 9.46% and a net margin of 4.99%.Eastman Chemical’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $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 predict that Eastman Chemical will post 6.48 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 5.0%. Eastman Chemical’s payout ratio is presently 87.50%.

Institutional Investors Weigh In On Eastman Chemical

Several hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC boosted its holdings in Eastman Chemical by 0.6% in the 4th quarter. Lido Advisors LLC now owns 20,313 shares of the basic materials company’s stock valued at $1,297,000 after purchasing an additional 125 shares during the period. Altshuler Shaham Ltd increased its holdings in shares of Eastman Chemical by 36.9% during the first quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 145 shares during the period. D.A. Davidson & CO. raised its position in shares of Eastman Chemical by 0.7% in the second quarter. D.A. Davidson & CO. now owns 20,743 shares of the basic materials company’s stock valued at $1,389,000 after buying an additional 153 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Eastman Chemical by 17.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,134 shares of the basic materials company’s stock valued at $76,000 after buying an additional 168 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in Eastman Chemical by 5.0% during the second quarter. Rehmann Capital Advisory Group now owns 3,850 shares of the basic materials company’s stock worth $257,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops and manufactures products used in transportation, building and construction, consumer goods, packaging, personal care, and other markets. The company serves customers through a portfolio of specialty polymers, additives, advanced materials, chemical intermediates, and fibers.

Its products include Tritan copolyester used in durable consumer and medical applications, Saflex interlayers for laminated glass, cellulose esters for coatings and plastics, and specialty additives used in coatings, adhesives, lubricants, and personal care products.