Mizuho Increases Eastman Chemical (NYSE:EMN) Price Target to $102.00

Eastman Chemical (NYSE:EMN) had its price objective increased by Mizuho from $91.00 to $102.00 in a research note released on Friday morning, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other research analysts have also issued research reports about the stock. Redburn Atlantic initiated coverage on shares of Eastman Chemical in a research note on Thursday, February 15th. They set a buy rating and a $110.00 price target on the stock. KeyCorp raised their price objective on Eastman Chemical from $101.00 to $121.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. UBS Group boosted their price objective on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Citigroup raised their price target on Eastman Chemical from $95.00 to $114.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company raised their price objective on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an equal weight rating in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Eastman Chemical has a consensus rating of Moderate Buy and a consensus price target of $101.41.

Eastman Chemical Stock Performance

Shares of EMN opened at $97.34 on Friday. Eastman Chemical has a 12-month low of $68.89 and a 12-month high of $102.71. The stock has a market capitalization of $11.45 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.70. The business’s fifty day moving average price is $93.98 and its 200 day moving average price is $86.56.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Eastman Chemical had a return on equity of 13.95% and a net margin of 10.16%. Eastman Chemical’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. Equities research analysts forecast that Eastman Chemical will post 7.71 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Thursday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 41.75%.

Insider Transactions at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Eastman Chemical

Several hedge funds have recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC acquired a new position in Eastman Chemical in the fourth quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Eastman Chemical in the 1st quarter valued at approximately $34,000. First Command Advisory Services Inc. bought a new stake in Eastman Chemical during the 3rd quarter worth approximately $26,000. Sound Income Strategies LLC raised its holdings in Eastman Chemical by 213.8% during the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after buying an additional 278 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Eastman Chemical in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Company Profile

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.