As of Friday close, Eastman Chemical Company’s (NYSE:EMN) stock was up $0.45, moving up 0.54 percent to $83.63. The average number of shares traded per day over the past five days has been 788,160 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.75 fall in that time frame. In the last twenty days, the average volume was 968,400, while in the previous 50 days, it was 921,552.
Since last month, EMN stock retreated -4.51%. Shares of the company fell to $81.21 on 08/16/23, the lowest level in the past month. A 52-week high of $100.78 was reached on 02/02/23 after having rallying from a 52-week low of $69.91. Since the beginning of this year, EMN’s stock price has risen by 2.69% or $2.19, and marked a new high 7 times. However, the stock has declined by -17.01% since its 52-week high.
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EMN stock investors should be aware that Eastman Chemical Company (EMN) stock had its last reported insider trading activity 18 days ago on Aug 01. Holt Adrian James, the SVP, Chf HR Ofcr of the company, disposed of 1,935 shares for $85.64 on Aug 01. It resulted in a $165,713 divestment by the insider. McAlindon Julie A. sold 1,900 shares at an average price of $86.89 on Feb 17. The insider now owns 2,877 shares following the transaction.
Valuation Metrics
Right now, Eastman Chemical Company (EMN) has a P/E ratio of about 14.26. The stock’s beta is 1.51. Besides these, the trailing price-to-sales (P/S) ratio of 1.03, the price-to-book (PB) ratio of 1.88, and the price-to-cash flow ratio of 30.13 may also be considered.
The latest dividend of $0.79 per share was paid out, remained unchanged from last year’s $0.79.
Financial Health
In the three months ended June 29, Eastman Chemical Company’s quick ratio stood at 0.60, while its current ratio was 1.30, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.87, and the total debt-to-equity ratio was 1.03. On the profitability front, the trailing twelve-month gross margin is 20.70% percent. In the year ended June 29, operating margins totaled 9.90%. Based on annual data, EMN earned $2.14 billion in gross profit and brought in $10.58 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 9.50%. Return on equity (ROE) for the past 12 months was 13.50%.
In Eastman Chemical Company’s quarter-end financial report for June 29, it reported total debt of $4.59 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. EMN’s revenue fell -19.79% to $2.41 billion during the quarter, while net income inched up to $2.32 billion. While analysts expected Eastman Chemical Company to report $1.93 quarterly earnings, the actual figure was $1.99 per share, beating the consensus estimate by 3.10%. During the quarter, the company generated $461.0 million in EBITDA. The liabilities of Eastman Chemical Company were 9.42 billion at the end of its most recent quarter ended June 29, and its total debt was $5.51 billion. The value of shareholders’ equity is $118.56 million.
Technical Picture
This quick technical analysis looks at Eastman Chemical Company’s (EMN) price momentum. With a historical volatility rate of 22.57%, the RSI 9-day stood at 46.52% on 18 August.
With respect to its five-day moving average, the current Eastman Chemical Company price is down by -0.89% percent or -$0.75. At present, EMN shares trade -4.13% below its 20-day simple moving average and +3.72% percent above its 100-day simple moving average. However, the stock is currently trading approximately -0.14% below its SMA50 and +8.88% above its SMA200.
Stochastic coefficient K was 28.66% and Stochastic coefficient D was 15.70%, while ATR was 1.84. Given the Stochastic reading of 50.63% for the 14-day period, the RSI (14) reading has been calculated as 47.03%. As of today, the MACD Oscillator reading stands at -0.95, while the 14-day reading stands at -1.30.
Analyst Ratings
Eastman Chemical Company downgraded its rating on Eastman Chemical Company (NYSE: EMN) to a Neutral in a note to investors on August 01, 2023. The analysts firm previously had an Overweight rating on the stock.Eastman Chemical Company (EMN) has been rated Overweight by analysts. According to 0 brokerage firms, EMN is a sell, and 14 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Eastman Chemical Company stock as buy, with 8 recommending it as overweight.
With a median target price of $92.10, the current consensus forecast for the stock is $78.00 – $115.00. Based on these forecasts, analysts predict Eastman Chemical Company (EMN) will achieve an average price target of $94.62.
