Equities research analysts forecast that Eastman Chemical (NYSE:EMN) will announce sales of $2.46 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Eastman Chemical’s earnings. The highest sales estimate is $2.48 billion and the lowest is $2.43 billion. Eastman Chemical reported sales of $2.30 billion in the same quarter last year, which suggests a positive year over year growth rate of 7%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, April 26th.
On average, analysts expect that Eastman Chemical will report full year sales of $10.00 billion for the current fiscal year, with estimates ranging from $9.89 billion to $10.18 billion. For the next financial year, analysts anticipate that the company will report sales of $10.38 billion per share, with estimates ranging from $10.20 billion to $10.58 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Eastman Chemical.
Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.56. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.24 billion. Eastman Chemical had a return on equity of 22.02% and a net margin of 15.44%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.51 earnings per share.
In other Eastman Chemical news, insider Lucian Boldea sold 3,325 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $95.00, for a total value of $315,875.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen R. Demeritt sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $99.84, for a total transaction of $399,360.00. Following the completion of the sale, the director now directly owns 17,732 shares in the company, valued at $1,770,362.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,935 shares of company stock worth $14,241,099. 1.18% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of EMN. Balter Liquid Alternatives LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter worth about $115,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Eastman Chemical during the 3rd quarter worth about $113,000. Advisors Preferred LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter worth about $120,000. NuWave Investment Management LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter worth about $123,000. Finally, Vigilant Capital Management LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter worth about $126,000. 85.47% of the stock is currently owned by institutional investors.
Shares of EMN stock traded up $0.22 during trading hours on Friday, reaching $108.37. 831,086 shares of the company’s stock were exchanged, compared to its average volume of 1,300,288. The company has a market cap of $15,340.33, a PE ratio of 14.24, a PEG ratio of 1.41 and a beta of 1.21. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. Eastman Chemical has a fifty-two week low of $76.11 and a fifty-two week high of $112.45.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Thursday, March 15th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, March 14th. Eastman Chemical’s payout ratio is 29.43%.
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Eastman Chemical Company Profile
Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
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