Eastman Chemical (EMN) Scheduled to Post Earnings on Thursday

Eastman Chemical (NYSE:EMNGet Rating) is scheduled to be announcing its earnings results after the market closes on Thursday, January 26th. Analysts expect the company to announce earnings of $1.26 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Eastman Chemical (NYSE:EMNGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Eastman Chemical had a net margin of 10.73% and a return on equity of 19.79%. On average, analysts expect Eastman Chemical to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Eastman Chemical Stock Performance

Shares of NYSE:EMN opened at $90.61 on Wednesday. The company’s 50 day simple moving average is $85.72 and its 200 day simple moving average is $85.51. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 0.66. Eastman Chemical has a 1 year low of $69.91 and a 1 year high of $124.85.

Eastman Chemical Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Thursday, December 15th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.49%. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.76. The ex-dividend date was Wednesday, December 14th. Eastman Chemical’s dividend payout ratio (DPR) is 34.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EMN shares. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $98.00 to $108.00 in a research note on Wednesday, January 11th. Deutsche Bank Aktiengesellschaft cut Eastman Chemical from a “buy” rating to a “hold” rating and increased their price target for the company from $90.00 to $96.00 in a research note on Monday, January 16th. Piper Sandler dropped their price target on Eastman Chemical from $103.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, October 10th. UBS Group increased their price target on Eastman Chemical from $96.00 to $108.00 in a research note on Wednesday, January 4th. Finally, Credit Suisse Group dropped their price target on Eastman Chemical from $102.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.38.

Institutional Trading of Eastman Chemical

A number of large investors have recently bought and sold shares of the business. UBS Group AG grew its holdings in Eastman Chemical by 41.0% during the 1st quarter. UBS Group AG now owns 567,771 shares of the basic materials company’s stock worth $63,625,000 after acquiring an additional 165,233 shares during the period. Goldman Sachs Group Inc. grew its holdings in Eastman Chemical by 35.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 475,367 shares of the basic materials company’s stock worth $53,269,000 after acquiring an additional 123,394 shares during the period. Royal London Asset Management Ltd. grew its stake in shares of Eastman Chemical by 5.2% in the 1st quarter. Royal London Asset Management Ltd. now owns 320,508 shares of the basic materials company’s stock valued at $35,932,000 after buying an additional 15,966 shares during the period. First Trust Advisors LP grew its stake in shares of Eastman Chemical by 224.3% in the 1st quarter. First Trust Advisors LP now owns 298,558 shares of the basic materials company’s stock valued at $33,456,000 after buying an additional 206,505 shares during the period. Finally, National Pension Service grew its stake in shares of Eastman Chemical by 1.0% in the 2nd quarter. National Pension Service now owns 210,853 shares of the basic materials company’s stock valued at $18,928,000 after buying an additional 2,088 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

About Eastman Chemical

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Eastman Chemical Co engages in the provision of specialty chemicals. It operates through the following segments: Additives and Functional Products, Advanced Materials, Chemical Intermediates and Fibers. The Additives and Functional Products segment includes chemicals for products in the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets.

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Earnings History for Eastman Chemical (NYSE:EMN)

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