Eastman Chemical Co. (NYSE:EMN) updated its FY13 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.30-6.40 for the period, compared to the Thomson Reuters consensus estimate of $6.48, American Banking & Market News reports.
Eastman Chemical Co. (NYSE:EMN) traded down 0.51% during mid-day trading on Thursday, hitting $82.18. The stock had a trading volume of 1,622,250 shares. Eastman Chemical Co. has a 52 week low of $52.93 and a 52 week high of $82.91. The stock’s 50-day moving average is $78.45 and its 200-day moving average is $72.65. The company has a market cap of $12.670 billion and a P/E ratio of 21.23.
Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Friday, October 25th. The company reported $1.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.64 by $0.04. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the company posted $1.57 earnings per share. Eastman Chemical’s revenue was up 3.5% compared to the same quarter last year. Analysts expect that Eastman Chemical Co. will post $6.48 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Eastman Chemical from $75.00 to $88.00 in a research note to investors on Thursday, September 5th. They now have an outperform rating on the stock. On a related note, analysts at Oppenheimer raised their price target on shares of Eastman Chemical from $75.00 to $88.00 in a research note to investors on Thursday, September 5th. They now have an outperform rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Eastman Chemical from $79.00 to $84.00 in a research note to investors on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Eastman Chemical presently has an average rating of Buy and a consensus target price of $84.86.
Eastman Chemical Company (NYSE:EMN) is a global specialty chemicals company that produces a range of advanced materials, chemicals and fibers that are found in products people use every day.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.