Q4 EPS Estimate for Eastman Chemical Decreased by Analyst

Eastman Chemical (NYSE:EMN - Free Report) - Equities researchers at Zacks Research dropped their Q4 2024 earnings per share estimates for Eastman Chemical in a report released on Thursday, November 14th. Zacks Research analyst R. Department now forecasts that the basic materials company will post earnings per share of $1.60 for the quarter, down from their prior estimate of $1.78. The consensus estimate for Eastman Chemical's current full-year earnings is $7.63 per share. Zacks Research also issued estimates for Eastman Chemical's Q1 2025 earnings at $1.86 EPS, Q2 2025 earnings at $2.28 EPS, Q4 2025 earnings at $1.94 EPS, FY2025 earnings at $8.35 EPS, Q1 2026 earnings at $2.03 EPS, Q3 2026 earnings at $2.41 EPS and FY2026 earnings at $9.03 EPS.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the previous year, the company earned $1.47 EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year.

A number of other research firms have also issued reports on EMN. Bank of America lowered Eastman Chemical from a "buy" rating to a "neutral" rating and upped their target price for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their target price on Eastman Chemical from $115.00 to $110.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. Piper Sandler reiterated a "neutral" rating and issued a $105.00 price target on shares of Eastman Chemical in a report on Tuesday, July 30th. Royal Bank of Canada cut their price target on Eastman Chemical from $107.00 to $105.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their price target on Eastman Chemical from $118.00 to $110.00 and set an "equal weight" rating for the company in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $111.50.

Eastman Chemical Price Performance

Shares of NYSE:EMN traded up $2.15 during trading on Monday, hitting $103.76. 681,674 shares of the stock were exchanged, compared to its average volume of 951,657. The company has a fifty day moving average price of $106.07 and a two-hundred day moving average price of $101.43. The company has a market cap of $12.03 billion, a PE ratio of 13.60, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. Eastman Chemical has a 12-month low of $80.71 and a 12-month high of $114.50.

Institutional Investors Weigh In On Eastman Chemical

A number of large investors have recently bought and sold shares of EMN. TIAA Trust National Association lifted its position in Eastman Chemical by 22.3% during the 1st quarter. TIAA Trust National Association now owns 4,217 shares of the basic materials company's stock worth $423,000 after acquiring an additional 768 shares during the last quarter. Jacobi Capital Management LLC bought a new stake in shares of Eastman Chemical during the first quarter valued at approximately $261,000. O Shaughnessy Asset Management LLC grew its stake in shares of Eastman Chemical by 4.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 40,735 shares of the basic materials company's stock valued at $4,082,000 after purchasing an additional 1,802 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Eastman Chemical by 18.1% during the first quarter. Clearbridge Investments LLC now owns 1,120,604 shares of the basic materials company's stock valued at $112,307,000 after purchasing an additional 171,945 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in Eastman Chemical by 584.3% in the first quarter. UniSuper Management Pty Ltd now owns 11,517 shares of the basic materials company's stock valued at $1,154,000 after buying an additional 9,834 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the transaction, the senior vice president now owns 12,366 shares of the company's stock, valued at approximately $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.93% of the stock is owned by corporate insiders.

About Eastman Chemical

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.