Zacks Research Expects Reduced Earnings for Eastman Chemical

Eastman Chemical (NYSE:EMN) – Investment analysts at Zacks Research decreased their Q4 2024 EPS estimates for shares of Eastman Chemical in a report issued on Thursday, November 14th. Zacks Research analyst R. Department now anticipates that the basic materials company will earn $1.60 per share for the quarter, down from their previous forecast 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) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.12. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. Eastman Chemical’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 earnings per share.

A number of other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Bank of America cut Eastman Chemical from a “buy” rating to a “neutral” rating and raised their target price for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Royal Bank of Canada dropped their price target on Eastman Chemical from $107.00 to $105.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Finally, Barclays lifted their price objective on shares of Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $111.50.

Eastman Chemical Trading Down 2.6 %

EMN opened at $101.26 on Monday. The firm’s 50 day moving average is $106.25 and its 200-day moving average is $101.51. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $11.74 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.77 and a beta of 1.44. Eastman Chemical has a 52-week low of $80.71 and a 52-week high of $114.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its stake in Eastman Chemical by 649.8% in the first quarter. Capital Research Global Investors now owns 4,511,466 shares of the basic materials company’s stock valued at $452,139,000 after acquiring an additional 3,909,740 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Eastman Chemical by 1,104.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 933,984 shares of the basic materials company’s stock valued at $104,560,000 after acquiring an additional 856,432 shares during the last quarter. Truist Financial Corp boosted its holdings in Eastman Chemical by 201.5% during the second quarter. Truist Financial Corp now owns 924,490 shares of the basic materials company’s stock worth $90,572,000 after buying an additional 617,889 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Eastman Chemical by 318.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 701,947 shares of the basic materials company’s stock valued at $69,516,000 after purchasing an additional 534,081 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Eastman Chemical by 57.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 935,732 shares of the basic materials company’s stock worth $104,755,000 after buying an additional 340,562 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Activity at Eastman Chemical

In other news, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the transaction, the senior vice president now directly owns 12,366 shares in the company, valued at $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.28% of the stock is owned by company insiders.

Eastman Chemical Company Profile

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.