Eastman Chemical (EMN) to Release Earnings on Thursday

Eastman Chemical (NYSE:EMN) is scheduled to be releasing 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. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the company earned $0.89 EPS. Eastman Chemical’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

EMN stock opened at $96.79 on Wednesday. Eastman Chemical has a 1 year low of $68.89 and a 1 year high of $102.71. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35. The stock’s 50 day moving average price is $92.98 and its 200 day moving average price is $85.93. The firm has a market cap of $11.38 billion, a P/E ratio of 12.92, a PEG ratio of 1.07 and a beta of 1.54.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical’s payout ratio is currently 43.26%.

Insider Activity at Eastman Chemical

In related news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.28% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on EMN shares. Royal Bank of Canada boosted their price target on Eastman Chemical from $89.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, April 19th. UBS Group boosted their price target on Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Stifel Nicolaus cut their price target 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 boosted their price target on Eastman Chemical from $95.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price target on Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.81.

Eastman Chemical Company Profile

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.