Analysts Set Eastman Chemical (NYSE:EMN) Price Target at $113.08

Eastman Chemical (NYSE:EMN) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $107.75.

Several equities research analysts recently commented on EMN shares. Mizuho upgraded Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a report on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on shares of Eastman Chemical from $125.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. KeyCorp raised their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th.

Institutional Investors Weigh In On Eastman Chemical

A number of institutional investors have recently made changes to their positions in EMN. Crews Bank & Trust acquired a new position in Eastman Chemical in the fourth quarter worth $27,000. Picton Mahoney Asset Management lifted its position in shares of Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock worth $29,000 after buying an additional 124 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after buying an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Eastman Chemical during the 4th quarter valued at about $35,000. Finally, Dunhill Financial LLC raised its stake in Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 162 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $75.98 on Friday. The firm has a fifty day moving average of $92.48 and a 200-day moving average of $97.47. Eastman Chemical has a 52-week low of $70.90 and a 52-week high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $8.75 billion, a P/E ratio of 9.89, a PEG ratio of 1.22 and a beta of 1.38.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. As a group, analysts predict that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Friday, March 14th. Eastman Chemical’s dividend payout ratio is presently 43.23%.

Eastman Chemical Company Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.