Eastman Chemical (NYSE:EMN) Price Target Raised to $102.00 at Mizuho

Eastman Chemical (NYSE:EMN) had its price target raised by Mizuho from $91.00 to $102.00 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the company. UBS Group boosted their price objective on Eastman Chemical from $91.00 to $93.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Royal Bank of Canada boosted their price target on Eastman Chemical from $89.00 to $100.00 and gave the stock a sector perform rating in a research report on Friday, April 19th. Stifel Nicolaus dropped their price target on Eastman Chemical from $102.00 to $101.00 and set a buy rating for the company in a research report on Monday, February 5th. Citigroup boosted their price target on Eastman Chemical from $95.00 to $114.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, Redburn Atlantic initiated coverage on Eastman Chemical in a research report on Thursday, February 15th. They set a buy rating and a $110.00 price target for the company. 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, the stock has a consensus rating of Moderate Buy and an average price target of $99.31.

Eastman Chemical Stock Down 0.6 %

Eastman Chemical stock opened at $95.52 on Friday. The stock has a market capitalization of $11.23 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $102.71. The business has a 50 day simple moving average of $93.78 and a 200-day simple moving average of $86.23. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.70.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Eastman Chemical had a return on equity of 13.95% and a net margin of 10.16%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. On average, analysts anticipate that Eastman Chemical will post 7.71 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Thursday, March 14th. Eastman Chemical’s dividend payout ratio is currently 41.75%.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.93% of the stock is owned by corporate insiders.

Institutional Trading of Eastman Chemical

Hedge funds have recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in Eastman Chemical during the 4th quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical in the 1st quarter valued at approximately $34,000. First Command Advisory Services Inc. acquired a new stake in shares of Eastman Chemical in the 3rd quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its holdings in shares of Eastman Chemical by 213.8% in the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock valued at $37,000 after buying an additional 278 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $38,000. 83.65% of the stock is owned by institutional investors and hedge funds.

About Eastman Chemical

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.