Eastman Chemical (EMN) Set to Announce Earnings on Wednesday
Eastman Chemical (NYSE:EMN) is scheduled to post its quarterly earnings results after the market closes on Wednesday, January 24th. Analysts expect Eastman Chemical to post earnings of $1.51 per share for the quarter.
Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.16. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Eastman Chemical had a return on equity of 22.77% and a net margin of 10.89%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.86 earnings per share. On average, analysts expect Eastman Chemical to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.
Shares of Eastman Chemical (NYSE:EMN) opened at $96.81 on Wednesday. The stock has a market capitalization of $13,910.00, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.44 and a beta of 1.31. Eastman Chemical has a 12-month low of $74.78 and a 12-month high of $98.24. The company has a current ratio of 1.83, a quick ratio of 0.94 and a debt-to-equity ratio of 1.24.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Monday, December 18th were given a dividend of $0.56 per share. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, December 15th. This represents a $2.24 dividend on an annualized basis and a yield of 2.31%. Eastman Chemical’s dividend payout ratio (DPR) is presently 32.51%.
In other Eastman Chemical news, SVP Perry Stuckey sold 5,200 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $92.12, for a total value of $479,024.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.14% of the stock is owned by insiders.
A number of analysts recently issued reports on the company. Instinet cut Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 price objective for the company. in a research report on Tuesday, October 10th. Zacks Investment Research raised Eastman Chemical from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Tuesday, January 9th. UBS Group lifted their price objective on Eastman Chemical from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Wells Fargo & Co reissued an “outperform” rating and set a $102.00 price objective (up previously from $94.00) on shares of Eastman Chemical in a research report on Monday, October 30th. They noted that the move was a valuation call. Finally, Nomura cut Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 price objective for the company. in a research report on Tuesday, October 10th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $98.60.
About Eastman Chemical
Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.
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