Eastman Chemical (NYSE:EMN) will release its earnings data after the market closes on Thursday, April 26th. Analysts expect Eastman Chemical to post earnings of $1.99 per share for the quarter.
Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.56. Eastman Chemical had a net margin of 15.44% and a return on equity of 22.02%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. Eastman Chemical’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect Eastman Chemical to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.
EMN opened at $105.30 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 1.12. Eastman Chemical has a 52-week low of $76.11 and a 52-week high of $112.45. The company has a market cap of $15,346.05, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.20.
In other Eastman Chemical news, CAO Scott V. King sold 9,883 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $100.82, for a total transaction of $996,404.06. Following the completion of the sale, the chief accounting officer now owns 19,781 shares in the company, valued at $1,994,320.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP David A. Golden sold 8,600 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $105.38, for a total transaction of $906,268.00. Following the sale, the senior vice president now owns 20,682 shares of the company’s stock, valued at approximately $2,179,469.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 142,935 shares of company stock valued at $14,241,099. 1.18% of the stock is owned by insiders.
Several research firms have issued reports on EMN. Royal Bank of Canada reiterated a “hold” rating and set a $103.00 price objective on shares of Eastman Chemical in a research note on Tuesday, April 17th. ValuEngine cut shares of Eastman Chemical from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Jefferies Group reissued a “buy” rating on shares of Eastman Chemical in a research report on Friday, March 9th. Zacks Investment Research raised shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research report on Wednesday, March 7th. Finally, Wells Fargo reissued an “outperform” rating and set a $115.00 target price (up from $108.00) on shares of Eastman Chemical in a research report on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $103.93.
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Eastman Chemical Company Profile
Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
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