Cowen Reiterates Outperform Rating for Eastman Chemical (EMN)

Eastman Chemical (NYSE:EMN)‘s stock had its “outperform” rating reissued by equities researchers at Cowen in a research report issued on Friday. They currently have a $106.00 price objective on the basic materials company’s stock, up from their previous price objective of $92.00. Cowen’s price objective would indicate a potential upside of 14.99% from the stock’s current price.

EMN has been the topic of several other reports. Jefferies Group reissued a “buy” rating and issued a $96.00 target price on shares of Eastman Chemical in a research note on Tuesday, October 3rd. Nomura cut Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 target price on the stock. in a research note on Tuesday, October 10th. Wells Fargo & Company reissued an “outperform” rating and issued a $102.00 target price (up from $94.00) on shares of Eastman Chemical in a research note on Monday, October 30th. They noted that the move was a valuation call. Goldman Sachs Group raised Eastman Chemical from a “neutral” rating to a “buy” rating and raised their target price for the stock from $81.00 to $101.00 in a research note on Thursday, September 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $93.00 target price (up from $91.00) on shares of Eastman Chemical in a research note on Monday, October 30th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $96.93.

Shares of Eastman Chemical (EMN) opened at $92.18 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $13,151.70, a PE ratio of 12.18, a P/E/G ratio of 1.56 and a beta of 1.31. Eastman Chemical has a 12 month low of $74.78 and a 12 month high of $94.96.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, October 26th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.16. The company had revenue of $2.47 billion for 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%. Eastman Chemical’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $1.86 earnings per share. analysts predict that Eastman Chemical will post 7.13 EPS for the current fiscal year.

In other Eastman Chemical news, SVP Perry Stuckey sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total value of $479,024.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.14% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Eastman Chemical during the third quarter valued at approximately $113,000. Advisors Asset Management Inc. lifted its holdings in shares of Eastman Chemical by 149.9% during the second quarter. Advisors Asset Management Inc. now owns 1,377 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 826 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Eastman Chemical by 1,500.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 1,500 shares during the last quarter. Psagot Investment House Ltd. lifted its holdings in shares of Eastman Chemical by 60.0% during the third quarter. Psagot Investment House Ltd. now owns 1,600 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 600 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its holdings in shares of Eastman Chemical by 62.9% during the second quarter. M&R Capital Management Inc. now owns 1,812 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Cowen Reiterates Outperform Rating for Eastman Chemical (EMN)” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://sportsperspectives.com/2017/12/10/cowen-reiterates-outperform-rating-for-eastman-chemical-emn.html.

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.

Analyst Recommendations for Eastman Chemical (NYSE:EMN)

Receive News & Ratings for Eastman Chemical Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply