Investment Analysts’ Weekly Ratings Changes for Eastman Chemical (EMN)

Eastman Chemical (NYSE: EMN) recently received a number of ratings updates from brokerages and research firms:

• 11/4/2024 – Eastman Chemical had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $110.00. They now have a “hold” rating on the stock.
• 11/4/2024 – Eastman Chemical had its price target lowered by analysts at Wells Fargo & Company from $118.00 to $110.00. They now have an “equal weight” rating on the stock.
• 11/1/2024 – Eastman Chemical had its price target raised by analysts at Mizuho from $107.00 to $113.00. They now have a “neutral” rating on the stock.
• 10/16/2024 – Eastman Chemical was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $119.00 price target on the stock, up previously from $114.00.
• 10/15/2024 – Eastman Chemical had its price target raised by analysts at Wells Fargo & Company from $105.00 to $118.00. They now have an “equal weight” rating on the stock.
• 10/11/2024 – Eastman Chemical had its price target raised by analysts at Royal Bank of Canada from $100.00 to $107.00. They now have a “sector perform” rating on the stock.

Eastman Chemical Stock Performance

NYSE EMN opened at $100.05 on Tuesday. The company has a market cap of $11.69 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.80 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. The stock has a 50-day moving average of $105.80 and a two-hundred day moving average of $101.04. Eastman Chemical has a 1-year low of $75.01 and a 1-year high of $114.50.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.12. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a return on equity of 15.45% and a net margin of 9.47%. Eastman Chemical’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.47 EPS. As a group, analysts anticipate that Eastman Chemical will post 7.66 EPS for the current year.

Hedge Funds Weigh In On Eastman Chemical

Several institutional investors have recently bought and sold shares of EMN. Cultivar Capital Inc. acquired a new position in Eastman Chemical in the 2nd quarter valued at about $29,000. Wolff Wiese Magana LLC grew its position in shares of Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Eastman Chemical during the first quarter worth about $38,000. Rothschild Investment LLC acquired a new position in shares of Eastman Chemical during the second quarter worth about $38,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Eastman Chemical during the third quarter worth about $38,000. 83.65% of the stock is owned by institutional investors and hedge funds.

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.