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Wall Street analysts expect Eastman Chemical (NYSE: EMN) to post earnings per share (EPS) of $ 2.49 for the current quarter, according to Zack. Five analysts estimated Eastman Chemical’s earnings, with the highest estimate of EPS at $ 2.61 and the lowest estimate at $ 2.42. Eastman Chemical reported earnings per share of $ 1.57 in the same quarter last year, suggesting a positive year-over-year growth rate of 58.6%. The company is expected to release its next quarterly results after market close on Thursday, October 28.
According to Zacks, analysts expect Eastman Chemical to report annual earnings of $ 9.18 per share for the current year, with EPS estimates ranging from $ 9.00 to $ 9.40. For the next fiscal year, analysts predict the company will post earnings of $ 9.68 per share, with EPS estimates ranging from $ 9.30 to $ 10.15. Zacks Investment Research’s BPA calculations are an average based on a survey of seller-side analysts who cover Eastman Chemical.
Eastman Chemical (NYSE: EMN) last released its quarterly earnings data on Sunday, August 1. The basic materials company reported EPS of $ 2.46 for the quarter, beating the Thomson Reuters consensus estimate of $ 2.33 by $ 0.13. The company posted revenue of $ 2.65 billion for the quarter, compared to a consensus estimate of $ 2.40 billion. Eastman Chemical had a net margin of 3.43% and a return on equity of 17.52%. The company’s revenue increased 37.9% compared to the same quarter last year. During the same period of the previous year, the company made a profit of $ 0.85 per share.
A number of research analysts have commented on the actions of the REM. KeyCorp reduced its price target for Eastman Chemical shares from $ 137.00 to $ 119.00 and set an “overweight” rating on the stock in a research report published on Monday, October 11. Royal Bank of Canada reissued a “sector performance†rating and set a price target of $ 109.44 (up from $ 119.00 previously) on Eastman Chemical shares in a research note on Tuesday July 27 . TheStreet downgraded Eastman Chemical from a “b-†rating to a “c +†rating in a research note on Monday, August 23. Bank of America upgraded Eastman Chemical from a “neutral” to a “buy” rating and set a price target of $ 140.00 for the company in a research note on Thursday, August 5. Finally, Scotiabank upgraded Eastman Chemical from a “sector performance†rating to a “superior sector performance†rating and set a price target of $ 145.00 for the company in a research note on Monday 21. June. Three investment analysts rated the stock with a conservation rating and eight issued a buy rating for the company’s stock. According to MarketBeat, the company has an average rating of “Buy†and an average target price of $ 130.74.
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Actions of Eastman Chemical Actions open for $ 107.37 Friday. Eastman Chemical has a 12-month low of $ 78.88 and a 12-month high of $ 130.47. The company has a market cap of $ 14.58 billion, a price / earnings ratio of 46.08, a PEG ratio of 0.62 and a beta of 1.50. The company has a current ratio of 2.06, a quick ratio of 1.41, and a debt ratio of 0.87. The company’s 50-day mobile average price is $ 108.31, and its 200-day mobile average price is $ 114.33.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 1. Shareholders of record on Wednesday September 15 received a dividend of $ 0.69 per share. The ex-dividend date of this dividend was Tuesday, September 14. This represents a dividend of $ 2.76 on an annualized basis and a dividend yield of 2.57%. Eastman Chemical’s payout ratio is currently 44.88%.
In related news, Executive Vice President Brad A. Lich sold 26,496 shares of the company in a trade that took place on Thursday, August 26. The stock was sold for an average price of $ 113.19, for a total value of $ 2,999,082.24. The transaction was disclosed in a legal file with the SEC, which is available through this link. In addition, CEO Mark J. Costa sold 45,000 shares of the company in a transaction that took place on Thursday, August 12. The stock was sold for an average price of $ 115.30, for a total value of $ 5,188,500.00. Following the completion of the transaction, the CEO now directly owns 265,381 shares of the company, valued at $ 30,598,429.30. Disclosure of this sale can be found here. 1.93% of the shares are held by insiders.
Large investors have recently increased or reduced their stakes in the company. Heritage Way Advisors LLC increased its position in Eastman Chemical shares by 1.3% during the 3rd quarter. Heritage Way Advisors LLC now owns 32,081 shares of the basic materials company valued at $ 3,232,000 after purchasing an additional 405 shares in the last quarter. Private Advisor Group LLC increased its position in Eastman Chemical shares by 72.2% during the 3rd quarter. Private Advisor Group LLC now owns 10,198 shares of the basic materials company valued at $ 1,027,000 after purchasing an additional 4,275 shares in the last quarter. Capital Asset Advisory Services LLC increased its position in Eastman Chemical shares by 2.6% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 4,288 shares of the basic materials company valued at $ 435,000 after purchasing 107 more shares in the last quarter. Butensky & Cohen Financial Security Inc. increased its position in Eastman Chemical shares by 3.0% during the 3rd quarter. Butensky & Cohen Financial Security Inc. now owns 33,485 shares of the basic materials company valued at $ 3,373,000 after purchasing an additional 980 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its position in Eastman Chemical shares by 4.6% during the 3rd quarter. Gilbert & Cook Inc. now owns 3,008 shares of the basic materials company valued at $ 303,000 after purchasing 132 additional shares in the last quarter. 83.59% of the shares are currently held by institutional investors and hedge funds.
About Eastman Chemical
Eastman Chemical Co is engaged in the supply 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 care and consumer sectors. home and other markets.
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