$2.58 EPS Expected for Eastman Chemical (NYSE:EMN) This Quarter

Analysts predict that Eastman Chemical (NYSE:EMN) will post earnings per share of $2.58 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Eastman Chemical’s earnings. The highest EPS estimate is $2.66 and the lowest is $2.49. Eastman Chemical posted earnings per share of $2.34 during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.3%. The company is scheduled to report its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Eastman Chemical will report full year earnings of $8.35 per share for the current year, with EPS estimates ranging from $7.75 to $8.66. For the next fiscal year, analysts forecast that the company will report earnings of $9.23 per share, with EPS estimates ranging from $8.75 to $10.21. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that follow Eastman Chemical.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.10). The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.55 billion. Eastman Chemical had a net margin of 9.45% and a return on equity of 17.77%. Eastman Chemical’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.22 earnings per share.

Several equities research analysts recently weighed in on the company. KeyCorp set a $37.00 target price on SeaWorld Entertainment and gave the company a “buy” rating in a report on Friday, April 12th. Cowen restated a “buy” rating and set a $220.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, April 30th. Citigroup set a $12.00 target price on Controladora Vuela Co Avcn SA CV and gave the company a “buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. set a €7.50 ($8.72) target price on Schaeffler and gave the company a “sell” rating in a report on Monday. Finally, Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Eastman Chemical currently has a consensus rating of “Hold” and an average price target of $86.50.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisor Networks LLC lifted its holdings in Eastman Chemical by 4.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,265 shares of the basic materials company’s stock worth $248,000 after buying an additional 127 shares during the period. Avestar Capital LLC lifted its holdings in Eastman Chemical by 7.4% in the 1st quarter. Avestar Capital LLC now owns 1,966 shares of the basic materials company’s stock worth $132,000 after buying an additional 136 shares during the period. Berman Capital Advisors LLC lifted its holdings in Eastman Chemical by 28.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 639 shares of the basic materials company’s stock worth $49,000 after buying an additional 142 shares during the period. Signaturefd LLC lifted its holdings in Eastman Chemical by 6.6% in the 1st quarter. Signaturefd LLC now owns 2,383 shares of the basic materials company’s stock worth $181,000 after buying an additional 147 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in Eastman Chemical by 32.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 697 shares of the basic materials company’s stock worth $51,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Shares of Eastman Chemical stock traded down $0.33 during trading on Tuesday, hitting $76.71. 1,679,700 shares of the stock traded hands, compared to its average volume of 1,151,198. The company has a market capitalization of $10.76 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. Eastman Chemical has a 52 week low of $64.84 and a 52 week high of $103.92. The business has a fifty day simple moving average of $76.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.79 and a current ratio of 1.51.

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Friday, June 14th. Eastman Chemical’s dividend payout ratio is presently 30.24%.

About Eastman Chemical

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

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Earnings History and Estimates for Eastman Chemical (NYSE:EMN)

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