Eastman Chemical (NYSE:EMN) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for Eastman Chemical in a note issued to investors on Tuesday. Jefferies Group analyst L. Alexander expects that the basic materials company will post earnings per share of $2.12 for the quarter. Jefferies Group also issued estimates for Eastman Chemical’s Q2 2018 earnings at $2.15 EPS, Q3 2018 earnings at $2.20 EPS and Q4 2018 earnings at $2.03 EPS.
Other analysts have also issued reports about the stock. Cowen reissued an “outperform” rating and issued a $115.00 price objective (up from $106.00) on shares of Eastman Chemical in a research report on Wednesday. Zacks Investment Research lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays increased their price objective on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Monday. SunTrust Banks increased their price objective on shares of Eastman Chemical to $105.00 and gave the stock a “hold” rating in a research report on Monday. They noted that the move was a valuation call. Finally, UBS Group increased their price objective on shares of Eastman Chemical from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $101.73.
Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.56. Eastman Chemical had a net margin of 15.44% and a return on equity of 22.67%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the stock. Balter Liquid Alternatives LLC purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $115,000. Steward Partners Investment Advisory LLC purchased a new position in Eastman Chemical during the third quarter valued at approximately $113,000. NuWave Investment Management LLC purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $123,000. Vigilant Capital Management LLC purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $126,000. Finally, Psagot Investment House Ltd. increased its holdings in 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 buying an additional 600 shares during the period. 82.30% of the stock is currently owned by institutional investors.
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Eastman Chemical Company Profile
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.
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