EMN (Eastman Chemical Company): Time to Pay Attention?

After closing at $75.61 in the most recent trading day, Eastman Chemical Company (NYSE: EMN) closed at 74.74, down -1.15%. In other words, the price has decreased by $-0.87 from its previous closing price. On the day, 1183696 shares were traded. EMN reached its highest trading level at $76.69 during the session, while it also had its lowest trading level at $74.65.

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Our goal is to gain a better understanding of EMN by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 20.68 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 30.82. For the most recent quarter (mrq), Quick Ratio is recorded 0.70 and its Current Ratio is at 1.30. In the meantime, Its Debt-to-Equity ratio is 0.94 whereas as Long-Term Debt/Eq ratio is at 0.75.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Wells Fargo on September 14, 2022, Downgraded its rating to Equal Weight and sets its target price to $95 from $110 previously.

On August 01, 2022, Citigroup Downgraded its rating to Neutral which previously was Buy but kept the price unchanged to $102.

Jefferies Downgraded its Buy to Hold on June 16, 2022, whereas the target price for the stock was revised from $150 to $87.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Feb 25 when COX MARK K sold 4,858 shares for $120.79 per share. The transaction valued at 586,798 led to the insider holds 3,509 shares of the business.

Killian Christopher Moore sold 14,738 shares of EMN for $1,809,118 on Feb 10. The SVP & CTO now owns 2,249 shares after completing the transaction at $122.75 per share. On Jan 13, another insider, CRAWFORD STEPHEN GLENN, who serves as the EVP & Chf Tech & Sustain Ofc. of the company, sold 10,000 shares for $125.00 each. As a result, the insider received 1,250,000 and left with 21,680 shares of the company.

Valuation Measures:

As of this moment, Eastman’s Price-to-Earnings (P/E) ratio for their current fiscal year is 8.15, and their Forward P/E ratio for the next fiscal year is 7.71. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.23. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.86 while its Price-to-Book (P/B) ratio in mrq is 1.75.

Stock Price History:

Over the past 52 weeks, EMN has reached a high of $129.48, while it has fallen to a 52-week low of $75.56. The 50-Day Moving Average of the stock is 92.12, while the 200-Day Moving Average is calculated to be 105.61.

Shares Statistics:

The stock has traded on average 1.09M shares per day over the past 3-months and 1.9M shares per day over the last 10 days, according to various share statistics. A total of 124.80M shares are outstanding, with a floating share count of 122.14M. Insiders hold about 0.10% of the company’s shares, while institutions hold 88.60% stake in the company. Shares short for EMN as of Jul 14, 2022 were 2.08M with a Short Ratio of 2.15, compared to 1.86M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.62% and a Short% of Float of 1.86%.

Dividends & Splits

In the trailing 12 months, EMN’s forward annual dividend rate was 2.70, compared to 3.04 this year. Against a Trailing Annual Dividend Yield of 3.57%, it implies a Forward Annual Dividend Yield of 3.17%. The stock’s 5-year Average Dividend Yield is 2.84. The current Payout Ratio is 31.10% for EMN, which recently paid a dividend on Oct 06, 2022 with an ex-dividend date of Jun 13, 2022. Stock splits for the company last occurred on Oct 03, 2011 when the company split stock in a 2:1 ratio.

Earnings Estimates

Its stock is currently analyzed by 19 different market analysts. On average, analysts expect EPS of $2.65 for the current quarter, with a high estimate of $2.9 and a low estimate of $2.46, while EPS last year was $2.46. The consensus estimate for the next quarter is $2.37, with high estimates of $2.62 and low estimates of $2.11.

Analysts are recommending an EPS of between $10.7 and $9.45 for the fiscal current year, implying an average EPS of $9.79. EPS for the following year is $10.35, with 23 analysts recommending between $11.47 and $8.7.

Revenue Estimates

13 analysts predict $2.73B in revenue for the current quarter. It ranges from a high estimate of $3.09B to a low estimate of $2.52B. As of the current estimate, Eastman Chemical Company’s year-ago sales were $2.6B, an estimated increase of 5.10% from the year-ago figure. For the next quarter, 13 analysts are estimating revenue of $2.64B, a decrease of -1.80% less than the figure of $5.10% in the same quarter last year. There is a high estimate of $3.03B for the next quarter, whereas the lowest estimate is $2.32B.

A total of 21 analysts have provided revenue estimates for EMN’s current fiscal year. The highest revenue estimate was $11.98B, while the lowest revenue estimate was $9.97B, resulting in an average revenue estimate of $10.79B. In the same quarter a year ago, actual revenue was $10.48B, up 3.00% from the average estimate. Based on 21 analysts’ estimates, the company’s revenue will be $10.87B in the next fiscal year. The high estimate is $12.67B and the low estimate is $10.04B. The average revenue growth estimate for next year is up 0.70% from the average revenue estimate for this year.