Eastman Chemical (EMN) Set to Announce Quarterly Earnings on Thursday

Eastman Chemical (NYSE:EMN) is set to release its earnings data after the market closes on Thursday, April 25th. Analysts expect Eastman Chemical to post earnings of $1.43 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Eastman Chemical (NYSE:EMN) last released its earnings results on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.28 by $0.03. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. On average, analysts expect Eastman Chemical to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Eastman Chemical Price Performance

Shares of EMN opened at $95.97 on Thursday. The firm has a market cap of $11.29 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.08 and a beta of 1.54. Eastman Chemical has a 52-week low of $68.89 and a 52-week high of $102.71. The business’s 50 day moving average price is $92.17 and its two-hundred day moving average price is $85.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.81 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.24 annualized dividend and a dividend yield of 3.38%. Eastman Chemical’s dividend payout ratio is currently 43.26%.

Insider Activity at Eastman Chemical

In related news, SVP Adrian James Holt sold 4,735 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Eastman Chemical

A number of hedge funds have recently made changes to their positions in EMN. Blair William & Co. IL boosted its stake in shares of Eastman Chemical by 2.5% in the 1st quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company’s stock valued at $491,000 after purchasing an additional 105 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Eastman Chemical by 4.1% during the second quarter. Sunbelt Securities Inc. now owns 3,107 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 122 shares during the period. Profund Advisors LLC grew its holdings in shares of Eastman Chemical by 4.2% in the fourth quarter. Profund Advisors LLC now owns 3,249 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 130 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of Eastman Chemical by 0.8% in the first quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company’s stock worth $2,087,000 after purchasing an additional 150 shares during the last quarter. Finally, BOKF NA increased its stake in shares of Eastman Chemical by 3.8% in the second quarter. BOKF NA now owns 4,259 shares of the basic materials company’s stock worth $357,000 after buying an additional 154 shares during the period. 83.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group increased their price target on Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Stifel Nicolaus decreased their price objective on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a report on Monday, February 5th. Citigroup lifted their target price on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada decreased their target price on Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eastman Chemical currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.13.

About Eastman Chemical

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.