Eastman Chemical (NYSE: EMN)‘s stock had its “buy” rating restated by equities research analysts at TheStreet in a research note issued to investors on Monday, ARN reports.
The analysts wrote, “Eastman Chemical Company (EMN) has been reiterated by TheStreet Ratings as a buy with a ratings score of A-. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, attractive valuation levels, solid stock price performance, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow.”
EMN has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Eastman Chemical in a research note to investors on Wednesday, May 15th. They now have a $85.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Eastman Chemical in a research note to investors on Monday, May 6th. They now have a $71.00 price target on the stock. Finally, analysts at Credit Agricole downgraded shares of Eastman Chemical from a “buy” rating to an “outperform” rating in a research note to investors on Wednesday, May 1st. They now have a $90.00 price target on the stock, up previously from $75.00.
Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $77.64.
Shares of Eastman Chemical (NYSE: EMN) traded down 0.31% during mid-day trading on Monday, hitting $71.50. Eastman Chemical has a 52 week low of $41.54 and a 52 week high of $75.18. The stock’s 50-day moving average is currently $69.4. The company has a market cap of $11.067 billion and a P/E ratio of 20.94.
Eastman Chemical (NYSE: EMN) last announced its earnings results on Thursday, April 25th. The company reported $1.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.57 by $0.05. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company posted $1.22 earnings per share. Eastman Chemical’s revenue was up 26.7% compared to the same quarter last year. Eastman Chemical has set its FY13 guidance at $6.30-6.40 EPS. Analysts expect that Eastman Chemical will post $6.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Wednesday, June 12th.
Eastman Chemical Company (NYSE: EMN) is a global chemical company, which manufactures and sells a portfolio of chemicals, plastics, and fibers.