Eastman Chemical (EMN) Set to Announce Quarterly Earnings on Thursday

Eastman Chemical (NYSE:EMN) will announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.43 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. On average, analysts expect Eastman Chemical to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Eastman Chemical Trading Up 0.7 %

Shares of NYSE EMN opened at $97.06 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.78. The company has a market cap of $11.41 billion, a PE ratio of 12.96, a P/E/G ratio of 1.07 and a beta of 1.54. The company has a 50-day moving average of $92.98 and a two-hundred day moving average of $85.93. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Thursday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.26%.

Insider Activity

In other news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Eastman Chemical from $89.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday. UBS Group increased their target price on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Wells Fargo & Company increased their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. KeyCorp increased their target price on shares of Eastman Chemical from $101.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Citigroup increased their target price on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and an average target price of $97.81.

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.