Eastman Chemical (NYSE:EMN) is set to issue its quarterly earnings data after the market closes on Monday, August 3rd. Analysts expect the company to announce earnings of $1.07 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.
Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.31. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.26 billion. Eastman Chemical had a net margin of 8.85% and a return on equity of 16.76%. Eastman Chemical’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.77 EPS. On average, analysts expect Eastman Chemical to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.
NYSE:EMN opened at $74.63 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.66 and a quick ratio of 0.95. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 3.20 and a beta of 1.66. The company has a 50 day moving average price of $71.55 and a 200-day moving average price of $64.82. Eastman Chemical has a 1-year low of $34.44 and a 1-year high of $83.99.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.54%. Eastman Chemical’s dividend payout ratio (DPR) is 37.03%.
Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Eastman Chemical from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 4th. KeyCorp lifted their target price on shares of Eastman Chemical from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 13th. UBS Group lifted their target price on shares of Eastman Chemical from $54.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. TheStreet raised shares of Eastman Chemical from a “c” rating to a “b-” rating in a report on Wednesday, June 10th. Finally, Standpoint Research lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. Eastman Chemical presently has a consensus rating of “Buy” and a consensus target price of $72.28.
Eastman Chemical Company Profile
Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
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