Eastman Chemical (NYSE:EMN) Price Target Raised to $74.00

Eastman Chemical (NYSE:EMN) had its price objective lifted by Royal Bank Of Canada from $69.00 to $74.00 in a research report report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the basic materials company’s stock.

A number of other brokerages have also weighed in on EMN. Morgan Stanley lowered their target price on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Citigroup reduced their price target on shares of Eastman Chemical from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Wells Fargo & Company boosted their target price on shares of Eastman Chemical from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a research report on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.17.

Eastman Chemical Price Performance

Shares of Eastman Chemical stock opened at $73.58 on Wednesday. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 0.91 and a beta of 1.06. The firm’s 50-day moving average price is $70.51 and its two-hundred day moving average price is $72.30. The company has a current ratio of 1.50, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. Eastman Chemical has a 1-year low of $56.11 and a 1-year high of $83.47.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. Eastman Chemical’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, equities analysts predict that Eastman Chemical will post 6.43 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a yield of 4.6%. Eastman Chemical’s dividend payout ratio (DPR) is 87.50%.

Institutional Trading of Eastman Chemical

Hedge funds have recently modified their holdings of the company. Horizon Investments LLC grew its holdings in shares of Eastman Chemical by 3,022.6% during the fourth quarter. Horizon Investments LLC now owns 100,078 shares of the basic materials company’s stock worth $6,388,000 after purchasing an additional 96,873 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in Eastman Chemical by 21.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 559,128 shares of the basic materials company’s stock valued at $35,689,000 after buying an additional 99,883 shares during the last quarter. Yousif Capital Management LLC raised its holdings in Eastman Chemical by 81.8% in the 4th quarter. Yousif Capital Management LLC now owns 23,169 shares of the basic materials company’s stock valued at $1,534,000 after buying an additional 10,428 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Eastman Chemical by 84.2% during the 4th quarter. State of Alaska Department of Revenue now owns 100,129 shares of the basic materials company’s stock worth $6,390,000 after buying an additional 45,774 shares during the period. Finally, DDD Partners LLC bought a new stake in Eastman Chemical during the 4th quarter worth approximately $15,425,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.