There Is Still Room For Eastman Chemical Company (EMN) to Improve Its Value – Let’s Wait for Clarity

The closing price of Eastman Chemical Company (NYSE: EMN) was $81.96 for the day, up 2.23% from the previous closing price of $80.17. In other words, the price has increased by $+1.79 from its previous closing price. On the day, 1984858 shares were traded. EMN stock price reached its highest trading level at $82.67 during the session, while it also had its lowest trading level at $78.65.

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Our analysis of EMN’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 20.20 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 17.14. For the most recent quarter (mrq), Quick Ratio is recorded 0.60 and its Current Ratio is at 1.20. In the meantime, Its Debt-to-Equity ratio is 1.00 whereas as Long-Term Debt/Eq ratio is at 0.78.

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, Vertical Research on January 30, 2023, Downgraded its rating to Hold and sets its target price to $92 from $94 previously.

On January 30, 2023, Scotiabank Downgraded its rating to Sector Perform which previously was Sector Outperform and also lowered its target price recommendation from $100 to $90.

BofA Securities Upgraded its Neutral to Buy on January 11, 2023, whereas the target price for the stock was revised from $98 to $108.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Feb 17 when McAlindon Julie A. sold 1,900 shares for $86.89 per share. The transaction valued at 165,091 led to the insider holds 2,877 shares of the business.

Valuation Measures:

As of this moment, Eastman’s Price-to-Earnings (P/E) ratio for their current fiscal year is 13.02, and their Forward P/E ratio for the next fiscal year is 9.21. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.33. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.94 while its Price-to-Book (P/B) ratio in mrq is 1.90.

Stock Price History:

Over the past 52 weeks, EMN has reached a high of $114.97, while it has fallen to a 52-week low of $69.91. The 50-Day Moving Average of the stock is 87.03, while the 200-Day Moving Average is calculated to be 87.30.

Shares Statistics:

EMN traded an average of 1.01M shares per day over the past three months and 1.12M shares per day over the past ten days. A total of 119.30M shares are outstanding, with a floating share count of 118.11M. Insiders hold about 0.65% of the company’s shares, while institutions hold 87.80% stake in the company. Shares short for EMN as of Jan 30, 2023 were 1.98M with a Short Ratio of 1.92M, compared to 1.49M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.67% and a Short% of Float of 1.94%.

Dividends & Splits

With its trailing 12-month dividend rate of 2.70, EMN has a forward annual dividend rate of 3.16. Against a Trailing Annual Dividend Yield of 3.37%, it implies a Forward Annual Dividend Yield of 3.63%. The stock’s 5-year Average Dividend Yield is 2.99. The current Payout Ratio is 47.70% for EMN, which recently paid a dividend on Apr 09, 2023 with an ex-dividend date of Dec 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

The firm’s stock currently is rated by 19 analysts. On average, analysts expect EPS of $1.16 for the current quarter, with a high estimate of $1.38 and a low estimate of $1.05, while EPS last year was $2.06. The consensus estimate for the next quarter is $2.11, with high estimates of $2.5 and low estimates of $1.69.

Analysts are recommending an EPS of between $8.49 and $7.25 for the fiscal current year, implying an average EPS of $7.77. EPS for the following year is $8.87, with 20 analysts recommending between $10.4 and $7.42.

Revenue Estimates

It is expected that $90B in revenue will be generated in the current quarter, according to 15 analysts. It ranges from a high estimate of $2.62B to a low estimate of $2.24B. As of the current estimate, Eastman Chemical Company’s year-ago sales were $2.71B, an estimated decrease of -10.90% from the year-ago figure. For the next quarter, 14 analysts are estimating revenue of $2.68B, a decrease of -3.80% over than the figure of -$10.90% in the same quarter last year. There is a high estimate of $2.87B for the next quarter, whereas the lowest estimate is $2.45B.

A total of 20 analysts have provided revenue estimates for EMN’s current fiscal year. The highest revenue estimate was $11.05B, while the lowest revenue estimate was $9.74B, resulting in an average revenue estimate of $10.38B. In the same quarter a year ago, actual revenue was $10.58B, down -1.90% from the average estimate. Based on 20 analysts’ estimates, the company’s revenue will be $10.82B in the next fiscal year. The high estimate is $11.7B and the low estimate is $9.58B. The average revenue growth estimate for next year is up 4.20% from the average revenue estimate for this year.