Eastman Chemical (NYSE:EMN) posted its quarterly earnings results on Monday. The company reported $1.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.64 by $0.16, Analyst Ratings Network reports. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company’s revenue for the quarter was up 31.7% on a year-over-year basis.
A number of analysts have recently weighed in on EMN shares. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Eastman Chemical in a research note to investors on Wednesday, July 17th. They now have a $86.00 price target on the stock, up previously from $83.00. On the ratings front, analysts at TheStreet reiterated a “buy” rating on shares of Eastman Chemical in a research note to investors on Monday, June 3rd. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Eastman Chemical in a research note to investors on Thursday, May 16th.
Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $79.00.
Shares of Eastman Chemical (NYSE: EMN) traded up 1.17% during mid-day trading on Monday, hitting $75.03. Eastman Chemical has a one year low of $50.35 and a one year high of $76.36. The stock’s 50-day moving average is currently $72.4. The company has a market cap of $11.613 billion and a P/E ratio of 21.65.
Eastman Chemical Company (NYSE: EMN) is a global specialty chemicals company that produces a range of advanced materials, chemicals and fibers that are found in products people use every day.
