Eastman Chemical (NYSE:EMN) Stock Price Target Cut by Citigroup

Eastman Chemical (NYSE:EMN) had its target price dropped by stock analysts at Citigroup from $81.00 to $76.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target points to a potential upside of 16.95% from the stock’s previous close.

Several other brokerages have also commented on EMN. Weiss Ratings restated a “hold (c)” rating on shares of Eastman Chemical in a research report on Thursday, August 13th. Wall Street Zen downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. KeyCorp initiated coverage on shares of Eastman Chemical in a research report on Thursday, September 10th. They set a “sector weight” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $74.00 target price on shares of Eastman Chemical in a report on Monday, August 3rd. Finally, Morgan Stanley reduced their price target on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $79.23.

Eastman Chemical Stock Performance

EMN traded down $0.77 during trading on Wednesday, hitting $64.98. The stock had a trading volume of 507,475 shares, compared to its average volume of 1,368,956. The firm has a market capitalization of $7.43 billion, a P/E ratio of 16.93, a PEG ratio of 0.82 and a beta of 1.07. Eastman Chemical has a twelve month low of $56.11 and a twelve month high of $83.47. The company’s 50-day moving average price is $70.27 and its 200 day moving average price is $71.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.50.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, equities research analysts forecast that Eastman Chemical will post 6.48 EPS for the current fiscal year.

Institutional Trading of Eastman Chemical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Eastman Chemical in the 2nd quarter valued at about $1,134,421,000. Dimensional Fund Advisors LP lifted its stake in shares of Eastman Chemical by 7.4% during 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 during the period. State Street Corp boosted its holdings in shares of Eastman Chemical by 0.7% during the second quarter. State Street Corp now owns 4,169,105 shares of the basic materials company’s stock worth $282,741,000 after purchasing an additional 29,010 shares during the last quarter. Franklin Resources Inc. lifted its position in Eastman Chemical by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company’s stock worth $237,637,000 after buying an additional 20,634 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Eastman Chemical by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock worth $196,552,000 after buying an additional 732,693 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

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.