Eastman Chemical (EMN) Getting Somewhat Favorable Media Coverage, Analysis Shows

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News headlines about Eastman Chemical (NYSE:EMN) have been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Eastman Chemical earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave headlines about the basic materials company an impact score of 46.8073283648639 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Here are some of the news headlines that may have impacted Accern’s rankings:

Shares of NYSE EMN opened at $97.69 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.69 and a quick ratio of 0.95. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.29 and a beta of 1.13. Eastman Chemical has a fifty-two week low of $82.40 and a fifty-two week high of $112.45.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 26th. The basic materials company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.02. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.59 billion. Eastman Chemical had a return on equity of 21.79% and a net margin of 15.30%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.98 earnings per share. equities analysts anticipate that Eastman Chemical will post 8.57 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Friday, September 14th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, September 13th. Eastman Chemical’s dividend payout ratio is presently 29.43%.

Several equities analysts have issued reports on EMN shares. Zacks Investment Research upgraded Eastman Chemical from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research note on Wednesday, May 2nd. KeyCorp lifted their target price on Eastman Chemical from $118.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday, April 30th. Citigroup lifted their target price on Eastman Chemical from $103.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Royal Bank of Canada lifted their target price on Eastman Chemical to $107.00 and gave the company a “sector perform” rating in a research note on Monday, April 30th. They noted that the move was a valuation call. Finally, ValuEngine lowered Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $105.31.

In other Eastman Chemical news, insider Lucian Boldea sold 3,523 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $103.58, for a total value of $364,912.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Scott V. King sold 16,192 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $101.35, for a total value of $1,641,059.20. Following the completion of the sale, the chief accounting officer now directly owns 5,898 shares of the company’s stock, valued at approximately $597,762.30. The disclosure for this sale can be found here. In the last three months, insiders sold 39,715 shares of company stock valued at $4,005,972. Corporate insiders own 1.18% of the company’s stock.

About Eastman Chemical

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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