Eastman Chemical (NYSE:EMN) Upgraded at Barclays

by · The Markets Daily

Barclays upgraded shares of Eastman Chemical (NYSE:EMN – Free Report) to a hold rating in a report released on Monday,Zacks reports.

Several other research analysts also recently commented on EMN. Jefferies Financial Group reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Eastman Chemical in a research note on Friday, September 25th. Mizuho cut their price objective on Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, October 1st. UBS Group reduced their target price on shares of Eastman Chemical from $92.00 to $77.00 and set a “buy” rating for the company in a report on Monday, October 5th. Wall Street Zen lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $74.00 target price on shares of Eastman Chemical in a research note on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Eastman Chemical presently has an average rating of “Hold” and an average target price of $76.64.

Get Our Latest Analysis on EMN

Eastman Chemical Price Performance

Shares of Eastman Chemical stock opened at $62.87 on Monday. The stock has a market cap of $7.19 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.50. The stock’s fifty day moving average is $68.93 and its 200 day moving average is $70.84. Eastman Chemical has a one year low of $56.11 and a one year high of $83.47.

Eastman Chemical (NYSE:EMN – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. Eastman Chemical’s revenue for the quarter was up 9.9% on a year-over-year basis. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Sell-side analysts anticipate that Eastman Chemical will post 6.42 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th were issued a $0.84 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $3.36 annualized dividend and a yield of 5.3%. Eastman Chemical’s dividend payout ratio is currently 87.50%.

Institutional Investors Weigh In On Eastman Chemical

A number of institutional investors have recently bought and sold shares of EMN. BlackRock Inc. bought a new position in shares of Eastman Chemical in the second quarter worth about $1,134,421,000. Legal & General Group Plc purchased a new stake in shares of Eastman Chemical during the second quarter worth about $87,583,000. Bank of New York Mellon Corp bought a new stake in Eastman Chemical during the 2nd quarter valued at approximately $81,645,000. Allspring Global Investments Holdings LLC raised its stake in Eastman Chemical by 39.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock valued at $196,552,000 after purchasing an additional 732,693 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Eastman Chemical by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock worth $376,747,000 after purchasing an additional 338,914 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

(Get Free Report)

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman’s portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.

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