Eastman Chemical (NYSE:EMN) Price Target Cut to $118.00 by Analysts at UBS Group

Eastman Chemical (NYSE:EMNGet Rating) had its price objective decreased by UBS Group from $121.00 to $118.00 in a research note released on Friday, MarketBeat.com reports. UBS Group currently has a buy rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eastman Chemical from $135.00 to $125.00 in a research note on Wednesday, May 4th. Citigroup dropped their price objective on shares of Eastman Chemical from $139.00 to $127.00 in a research note on Monday, May 2nd. Stifel Nicolaus dropped their price objective on shares of Eastman Chemical to $155.00 in a research note on Monday, May 2nd. Jefferies Financial Group cut shares of Eastman Chemical from a buy rating to a hold rating and dropped their price target for the company from $150.00 to $87.00 in a research note on Thursday, June 16th. They noted that the move was a valuation call. Finally, Credit Suisse Group started coverage on shares of Eastman Chemical in a research report on Tuesday, May 31st. They set an outperform rating and a $130.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $120.13.

Eastman Chemical Price Performance

NYSE:EMN opened at $94.06 on Friday. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.32 and a beta of 1.43. Eastman Chemical has a 1 year low of $84.95 and a 1 year high of $129.48. The business has a 50 day simple moving average of $96.06 and a 200-day simple moving average of $106.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.57 and a quick ratio of 1.04.

Eastman Chemical (NYSE:EMNGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The basic materials company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.69 by $0.14. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.79 billion. Eastman Chemical had a net margin of 11.18% and a return on equity of 20.17%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 EPS. Equities analysts forecast that Eastman Chemical will post 9.75 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Wednesday, June 15th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Tuesday, June 14th. Eastman Chemical’s dividend payout ratio is currently 33.01%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EMN. Confluence Wealth Services Inc. acquired a new stake in Eastman Chemical in the 4th quarter valued at approximately $25,000. Gradient Investments LLC purchased a new position in Eastman Chemical in the 2nd quarter valued at approximately $27,000. Wellington Shields Capital Management LLC purchased a new position in Eastman Chemical in the 1st quarter valued at approximately $28,000. First Command Bank acquired a new stake in shares of Eastman Chemical in the 2nd quarter valued at $30,000. Finally, Castle Wealth Management LLC acquired a new stake in shares of Eastman Chemical in the 2nd quarter valued at $30,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

About Eastman Chemical

(Get Rating)

Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon and rosin resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins.

Recommended Stories

Analyst Recommendations for Eastman Chemical (NYSE:EMN)

Receive News & Ratings for Eastman Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical and related companies with MarketBeat.com's FREE daily email newsletter.