Citigroup Trims Eastman Chemical (NYSE:EMN) Target Price to $95.00

Eastman Chemical (NYSE:EMNGet Free Report) had its price target cut by equities research analysts at Citigroup from $96.00 to $95.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective points to a potential upside of 15.01% from the company’s current price.

Several other research firms have also recently commented on EMN. Stifel Nicolaus dropped their price objective on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday. Piper Sandler dropped their target price on Eastman Chemical from $96.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 11th. Barclays dropped their target price on Eastman Chemical from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. The Goldman Sachs Group raised their target price on Eastman Chemical from $82.00 to $92.00 and gave the stock a “neutral” rating in a research report on Thursday, December 14th. Finally, Royal Bank of Canada dropped their target price on Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.67.

Read Our Latest Report on Eastman Chemical

Eastman Chemical Stock Up 0.1 %

Shares of NYSE EMN traded up $0.07 during trading on Tuesday, reaching $82.60. The company had a trading volume of 820,523 shares, compared to its average volume of 1,189,278. Eastman Chemical has a 12-month low of $68.89 and a 12-month high of $91.38. The stock has a market cap of $9.79 billion, a PE ratio of 11.03, a P/E/G ratio of 1.37 and a beta of 1.53. The business’s 50-day moving average is $86.65 and its 200 day moving average is $81.92. The company has a quick ratio of 0.71, a current ratio of 1.36 and a debt-to-equity ratio of 0.84.

Eastman Chemical (NYSE:EMNGet Free Report) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. Eastman Chemical had a return on equity of 14.27% and a net margin of 9.71%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the firm posted $0.89 earnings per share. Eastman Chemical’s revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Eastman Chemical will post 7.79 earnings per share for the current fiscal year.

Institutional Trading of Eastman Chemical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC bought a new stake in Eastman Chemical during the 4th quarter valued at approximately $26,000. First Command Advisory Services Inc. bought a new stake in Eastman Chemical in the 3rd quarter worth approximately $26,000. Pacifica Partners Inc. bought a new stake in Eastman Chemical in the 3rd quarter worth approximately $28,000. Cornerstone Planning Group LLC bought a new stake in Eastman Chemical in the 2nd quarter worth approximately $33,000. Finally, Sound Income Strategies LLC increased its stake in Eastman Chemical by 213.8% in the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.

Eastman Chemical Company Profile

(Get Free Report)

Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins.

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Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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