Eastman Chemical (EMN) Scheduled to Post Earnings on Thursday

Eastman Chemical (NYSE:EMN – Get Rating) is scheduled to be releasing its earnings data after the market closes on Thursday, January 26th. Analysts expect Eastman Chemical to post earnings of $1.26 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Eastman Chemical (NYSE:EMN – Get Rating) last released its earnings results on Thursday, October 27th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $2.00 by $0.05. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Eastman Chemical had a return on equity of 19.79% and a net margin of 10.73%. On average, analysts expect Eastman Chemical to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Eastman Chemical Trading Down 0.3 %

Shares of NYSE EMN traded down $0.26 during midday trading on Tuesday, hitting $90.61. The stock had a trading volume of 1,317,464 shares, compared to its average volume of 945,969. The company’s 50-day simple moving average is $85.72 and its 200 day simple moving average is $85.51. The firm has a market cap of $10.87 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. Eastman Chemical has a fifty-two week low of $69.91 and a fifty-two week high of $124.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 0.66.

Eastman Chemical Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Thursday, December 15th were paid a dividend of $0.79 per share. The ex-dividend date was Wednesday, December 14th. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.76. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.49%. Eastman Chemical’s payout ratio is 34.73%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EMN shares. Tudor, Pickering, Holt & Co. raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 8th. Morgan Stanley decreased their price objective on Eastman Chemical from $165.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, October 12th. UBS Group lifted their target price on Eastman Chemical from $96.00 to $108.00 in a report on Wednesday, January 4th. The Goldman Sachs Group lifted their target price on Eastman Chemical from $78.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, December 15th. Finally, Wells Fargo & Company reduced their target price on Eastman Chemical from $95.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 18th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Eastman Chemical currently has a consensus rating of “Hold” and a consensus target price of $98.38.

Hedge Funds Weigh In On Eastman Chemical

A number of institutional investors have recently bought and sold shares of the business. Baird Financial Group Inc. increased its position in Eastman Chemical by 9.3% during the third quarter. Baird Financial Group Inc. now owns 122,312 shares of the basic materials company’s stock worth $8,690,000 after buying an additional 10,444 shares during the last quarter. BNP Paribas Arbitrage SNC increased its position in Eastman Chemical by 133.5% during the third quarter. BNP Paribas Arbitrage SNC now owns 84,654 shares of the basic materials company’s stock worth $6,015,000 after buying an additional 48,401 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Eastman Chemical by 2.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 12,126 shares of the basic materials company’s stock worth $862,000 after buying an additional 333 shares during the last quarter. Pathstone Family Office LLC increased its position in Eastman Chemical by 5.2% during the third quarter. Pathstone Family Office LLC now owns 4,211 shares of the basic materials company’s stock worth $300,000 after buying an additional 207 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Eastman Chemical during the third quarter worth approximately $2,148,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

About Eastman Chemical

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Eastman Chemical Co engages in the provision 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 and home care, and other markets.