Eastman Chemical (NYSE:EMN) Releases FY 2024 Earnings Guidance

Eastman Chemical (NYSE:EMN) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 7.500-7.700 for the period, compared to the consensus estimate of 7.690. The company issued revenue guidance of -.

Eastman Chemical Trading Up 0.2 %

NYSE EMN traded up $0.18 during trading hours on Thursday, hitting $105.17. The company’s stock had a trading volume of 1,318,187 shares, compared to its average volume of 938,616. The stock has a fifty day moving average of $105.66 and a 200 day moving average of $100.92. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. Eastman Chemical has a twelve month low of $72.87 and a twelve month high of $114.50. The firm has a market capitalization of $12.37 billion, a P/E ratio of 13.59, a PEG ratio of 0.81 and a beta of 1.44.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EMN. Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and raised their price target for the stock from $114.00 to $119.00 in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Eastman Chemical from $105.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Eastman Chemical from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, July 29th. Piper Sandler reissued a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada raised their price objective on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $111.64.

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.