Eastman Chemical (NYSE:EMN) announced a quarterly dividend on Monday, February 25th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.30 per share on Monday, April 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, March 13th.
EMN has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Eastman Chemical in a research note to investors on Friday, February 8th. They now have a $76.00 price target on the stock. On a related note, analysts at Jefferies Group raised their price target on shares of Eastman Chemical from $71.00 to $79.00 in a research note to investors on Friday, February 8th. They now have a “hold” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Eastman Chemical in a research note to investors on Monday, February 4th. They now have a $85.00 price target on the stock, up previously from $80.00.
Twelve analysts have rated the stock with a buy rating, one has issued an overweight rating, and five have given a hold rating to the company’s stock. The company presently has a consensus rating of “overweight” and an average target price of $81.79.
Eastman Chemical (EMN) traded down 5.15% on Monday, hitting $68.00. Eastman Chemical (EMN) has a 52-week low of $41.54 and a 52-week high of $75.18. The stock’s 50-day moving average is currently $71.75. The company has a market cap of $10.465 billion and a price-to-earnings ratio of 24.49.
Eastman Chemical last posted its quarterly earnings results on Thursday, January 31st. The company reported $1.19 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.19. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. Eastman Chemical has set its FY13 guidance at $6.30-6.40 EPS. Analysts expect that Eastman Chemical (EMN) will post $6.41 EPS for the current fiscal year.
Eastman Chemical Company (Eastman) is a global chemical company, which manufactures and sells a portfolio of chemicals, plastics, and fibers.
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