Jefferies Group analysts decreased their EPS forecast for shares of Eastman Chemical (NYSE:EMN) in a research report released on Monday morning, ARN reports. Jefferies Group currently has a hold rating and a $82.00 price objective on the stock. Jefferies Group previously had a $84.00 price objective on the company’s shares.
Eastman Chemical (NYSE:EMN) traded down 0.06% on Monday, hitting $78.39. 1,548,310 shares of the company’s stock traded hands. Eastman Chemical has a 52 week low of $52.93 and a 52 week high of $82.91. The stock has a 50-day moving average of $78.63 and a 200-day moving average of $74.66. The company has a market cap of $12.086 billion and a price-to-earnings ratio of 16.09.
Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Friday, October 25th. The company reported $1.68 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.57 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Eastman Chemical will post $6.39 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a buy rating on shares of Eastman Chemical in a research note to investors on Friday, October 25th. They now have a $100.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Eastman Chemical from a buy rating to a neutral rating in a research note to investors on Friday, October 25th. They now have a $89.00 price target on the stock, down previously from $93.00. Finally, 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. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $84.79.
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.
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