According to Bloomberg, the twenty-two rating agencies currently covering Eastman Chemical have collectively recommended that investors “hold” the company’s stock.
The New York Stock Exchange is the market where the stock is traded (NYSE: EMN). Only six of the remaining 13 equity research analysts have given the company a buy rating. Still, all of them have recommended that investors keep the same amount of stock in their portfolios that they already have.
The majority of market analysts who provided ratings for the company’s stock in the previous year have projected that the price of the company’s stock will be in the range of $98.78 to $100.00 in the year ahead.
In the most recent few months, several hedge funds and institutional investors have shifted their ownership stakes in the company due to various investment opportunities.
In the first quarter of this year, the State of Pennsylvania Public School Employees Retirement System increased the amount of Eastman Chemical stock that it owned, bringing its total stake in the company to a level that was 2.3% higher than before. Following the acquisition of 386 additional shares during the most recent quarter, the State of Pennsylvania Public School Employees Retirement System now owns 17,261 shares in the basic materials firm.
This brings the total number of shares directly owned by the pension fund to 17,261.
These shares have a value of $1,934,000 collectively. Yousif Capital Management LLC increased the amount of Eastman Chemical stock owned by 0.8% over the year’s first three months. Yousif Capital Management LLC now holds 18,628 shares of the basic materials company’s stock, following the acquisition of an additional 150 shares during the most recent quarter.
Each share of this company’s stock is currently valued at $2,087,000.
During the first three months of 2018, Cibc Global Market INC saw a 10.4% increase in the amount of Eastman Chemical stock it owned as a percentage of its total holdings. Cibc Global Market INC now has a total of 6,098 shares of the stock of the basic materials business after making an additional purchase of 572 shares during the most recent quarter.
These shares are currently worth $683,00 at the current market price.
Additionally, Cibc World Market INC has recently bought 6,098 shares of the company’s stock.
This transaction took place not too long ago.
Blair William & Co IL increased the amount of Eastman Chemical stock owned by 2.5% during the year’s first quarter.
Blair William & Co, IL, now directly owns 4,380 stock held by the basic materials company due to the purchase of 105 additional shares during the most recent fiscal quarter.
There is a total value of $491,000 associated with these shares.
And finally, during the first three months of this year, Sei Investments Company completed a 16.4% increase in the amount of Eastman Chemical stock it owned. Sei Investments Co now has a total of 200,656 shares of the stock of the basic materials company after purchasing an additional 28,338 shares during the most recent quarter.
The stock currently has an estimated market value of $22,546,000.
Institutional investors, including hedge funds and various other types, hold 83.42% of the company’s shares.
EMN has been the primary focus of most recent analyst reports.
Barclays raised their price objective on Eastman Chemical stock from $82 to $87 and upgraded the company’s rating from “equal weight” to “overweight” in a research report released on January 30 by Barclays.
In a research note published on Monday, January 30, Wells Fargo & Company increased their target price on Eastman Chemical from $80.00 to $95.00, assigning the company an “equal weight” rating.
In a research report released on Wednesday, January 11, Bank of America raised its target price on Eastman Chemical from $98.00 to $108.00, upgrading the company from a “neutral” rating to a “buy” rating.
The rating for Eastman Chemical was changed from “buy” to “hold” in a research report published on Monday, January 16, and the price target that Deutsche Bank Aktiengesellschaft has set for the company was raised from $90.00 to $96.00.
These adjustments were made as a direct result of the company’s performance over the previous week.
The UBS Group raised its target price for Eastman Chemical from $96.00 to $108.00 in a research study published on January 4.
The report outlined multiple other instances of price hikes in addition to this one.
NYSE: opening The price of EMN at the end of trading on Thursday was $80.17.
The price of Eastman Chemical has ranged from $69.91 to $114.97 over the past 12 months, with an all-time low of $69.91.
A debt-to-equity ratio comes in at 0.77; a quick ratio at 0.58; a current ratio at 1.16; and a quick ratio at 0.58.
The company has a PE ratio currently sitting at 12.73, a P/E/G ratio currently sitting at 2.08, and a beta currently sitting at 1.48.
The market capitalization of the company is currently sitting at $9.52 billion at this time.
The stock’s moving average over the past 50 days is $87.23, and its moving average over the past 200 days is $83.43.
On Friday, January 27, the most recent earnings report for Eastman Chemical (NYSE: EMN) was made public for investors to view.
The basic materials company’s quarterly earnings report came in at $0.89, $0.37 less than the consensus forecast of $1.26.
The earnings report was for the company’s most recent quarter.
The company had a return on equity of 17.82 percent, and the net margin for Eastman Chemical was 7.50 percent.
The analysts’ range of estimates for the company’s quarterly sales was from $2.42 billion to $2.37 billion.
The analysts provided this range of estimates.
The company reported $1.81 in earnings per share compared to the previous year’s.
Eastman Chemical reported an 11.9% decrease in revenue compared to the same period in 2017, which was the same period.
Eastman Chemical will finish the current fiscal year, having generated 7.77 earnings per share, as indicated by the projections of equity research professionals.
In addition, the company has just revealed that it will start disbursing a quarterly dividend beginning on April 10, as the announcement was just made. On March 15, a $0.79 dividend payment per share will be made to all stockholders who were recorded as having ownership as of that date.
The day shareholders are no longer entitled to receive dividend payments is Tuesday, March 14.
This equates to a dividend payment of $3.16 per year when calculated on an annualized basis and a dividend yield of 3.94% when calculated on that basis.
It has been determined that Eastman Chemical has a payout ratio of 50.16 percent.