Eastman Chemical (NYSE:EMN) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Eastman Chemical (NYSE:EMN) from a hold rating to a strong sell rating in a research note published on Monday,Zacks reports.

Several other brokerages have also recently issued reports on EMN. Citigroup dropped their price objective on Eastman Chemical from $81.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. UBS Group decreased their target price on Eastman Chemical from $92.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $74.00 target price on shares of Eastman Chemical in a research report on Monday, August 3rd. Barclays began coverage on Eastman Chemical in a report on Monday, October 12th. They issued an “equal weight” rating and a $72.00 target price for the company. Finally, JPMorgan Chase & Co. downgraded Eastman Chemical from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $82.00 to $66.00 in a research report on Friday, October 16th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.64.

Eastman Chemical Price Performance

Shares of EMN stock opened at $63.54 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. The company has a market capitalization of $7.27 billion, a P/E ratio of 16.55, a P/E/G ratio of 0.78 and a beta of 1.06. The company’s 50-day simple moving average is $68.06 and its two-hundred day simple moving average is $70.53. Eastman Chemical has a one year low of $56.11 and a one year high of $83.47.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, equities analysts anticipate that Eastman Chemical will post 6.37 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Tuesday, September 15th were issued a $0.84 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $3.36 annualized dividend and a dividend yield of 5.3%. Eastman Chemical’s payout ratio is currently 87.50%.

Hedge Funds Weigh In On Eastman Chemical

Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc increased its position in shares of Eastman Chemical by 84.3% during the third quarter. IFP Advisors Inc now owns 715 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 327 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in shares of Eastman Chemical by 17.7% during the 3rd quarter. Steel Grove Capital Advisors LLC now owns 27,921 shares of the basic materials company’s stock valued at $1,810,000 after purchasing an additional 4,195 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in shares of Eastman Chemical in the 3rd quarter worth $307,000. Valley Wealth Managers Inc. boosted its position in shares of Eastman Chemical by 3.2% in the 3rd quarter. Valley Wealth Managers Inc. now owns 63,718 shares of the basic materials company’s stock worth $4,131,000 after purchasing an additional 1,975 shares in the last quarter. Finally, Wedmont Private Capital acquired a new stake in shares of Eastman Chemical in the 3rd quarter worth $334,000. 83.65% of the stock is currently owned by institutional investors.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials and chemicals company that develops and manufactures products used in transportation, building and construction, consumer goods, medical products, packaging, and other industrial applications. Its portfolio includes specialty plastics, coatings, adhesives, fibers, additives, intermediates, and other performance materials.

The company’s products are designed to provide properties such as durability, chemical resistance, lightweight performance, clarity, and enhanced functionality.