Evercore ISI Issues Pessimistic Forecast for Eastman Chemical (NYSE:EMN) Stock Price

Eastman Chemical (NYSE:EMN) had its target price lowered by equities research analysts at Evercore ISI from $75.00 to $70.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the basic materials company’s stock. Evercore ISI’s price target would suggest a potential upside of 14.88% from the stock’s previous close.

EMN has been the subject of a number of other reports. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the company an “overweight” rating in a report on Monday, August 4th. Citigroup upped their price target on Eastman Chemical from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. UBS Group dropped their price objective on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Bank of America reduced their target price on shares of Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada set a $71.00 price objective on Eastman Chemical in a report on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.62.

Eastman Chemical Price Performance

EMN stock opened at $60.94 on Tuesday. The business’s 50-day moving average is $62.95 and its two-hundred day moving average is $70.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The firm has a market capitalization of $6.95 billion, a P/E ratio of 8.56, a P/E/G ratio of 6.16 and a beta of 1.31. Eastman Chemical has a 1 year low of $56.75 and a 1 year high of $107.50.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.28 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The business’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 EPS. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eastman Chemical

A number of large investors have recently added to or reduced their stakes in EMN. Vanguard Group Inc. lifted its holdings in shares of Eastman Chemical by 0.5% in the second quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock valued at $1,094,485,000 after purchasing an additional 79,988 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Eastman Chemical by 14.4% during the third quarter. Dimensional Fund Advisors LP now owns 4,052,656 shares of the basic materials company’s stock worth $255,515,000 after buying an additional 509,290 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Eastman Chemical by 6.8% in the second quarter. Invesco Ltd. now owns 2,993,687 shares of the basic materials company’s stock worth $223,509,000 after acquiring an additional 191,461 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Eastman Chemical by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,955,625 shares of the basic materials company’s stock valued at $220,252,000 after purchasing an additional 39,510 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Eastman Chemical by 5.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,934,952 shares of the basic materials company’s stock worth $219,124,000 after purchasing an additional 155,574 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

About Eastman Chemical

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.