Analysts Set Eastman Chemical (NYSE:EMN) Target Price at $113.08

Shares of Eastman Chemical (NYSE:EMN) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $112.83.

EMN has been the subject of a number of research reports. UBS Group decreased their price target on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, January 31st. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Royal Bank of Canada upped their price target on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Piper Sandler increased their target price on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th.

Eastman Chemical Price Performance

EMN stock opened at $75.48 on Friday. The company has a market capitalization of $8.69 billion, a PE ratio of 9.83, a P/E/G ratio of 1.22 and a beta of 1.43. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average is $94.76 and its two-hundred day moving average is $98.67. Eastman Chemical has a 52-week low of $73.78 and a 52-week high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Analysts predict that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

Institutional Investors Weigh In On Eastman Chemical

A number of hedge funds have recently made changes to their positions in the business. Crews Bank & Trust acquired a new stake in Eastman Chemical in the 4th quarter valued at approximately $27,000. Picton Mahoney Asset Management increased its holdings in shares of Eastman Chemical by 62.3% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 124 shares during the period. Dunhill Financial LLC increased its holdings in shares of Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 162 shares during the period. Assetmark Inc. raised its stake in shares of Eastman Chemical by 384.4% during the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 296 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical in the fourth quarter worth about $35,000. Institutional investors 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.