Eastman Chemical Company (NYSE:EMN) finished Friday with an addition of $0.08 to close at $81.93, an upside of 0.10 percent. An average of 849,600 shares of common stock have been traded in the last five days. There was a fall of -$1.70 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 917,475 shares traded, while the 50-day average volume stands at 899,490.
EMN stock has decreased by -6.48% in the last month. The company shares reached their 1-month lowest point of $81.10 on 08/23/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $69.91 and a high of $99.56 in 52 weeks. It has reached a new high 7 times so far this year and achieved 0.60% or $0.49 in price. In spite of this, the price is down -17.71% from the 52-week high.
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Insider Transactions
EMN stock investors should be aware that Eastman Chemical Company (EMN) stock had its last reported insider trading activity 25 days ago on Aug 01. In this transaction, the insider spent $165,713. SVP, Regions & Chf SupChn Ofcr, McAlindon Julie A., disposed of 1,900 shares at a price of $86.89 on Feb 17. The insider now owns more than $165,091 worth of shares.
Valuation Metrics
Eastman Chemical Company (EMN) has a trailing price-to-earnings (P/E) ratio of 13.97. The stock’s beta is 1.52. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.98, the price-to-book (PB) ratio at 1.84, and the price-to-cash flow ratio at 28.93.
Financial Health
The quick ratio of Eastman Chemical Company for the three months ended June 29 was 0.60, and the current ratio was 1.30, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.87 and a total debt to equity ratio of 1.03 for the quarter ending June 29. Eastman Chemical Company’s EBITDA margin for the year ending June 29 is 14.82%, while its operating margin for the same period stands at 9.90%. Its gross profit as reported stood at $2.14 billion compared to revenue of $10.58 billion.
Earnings Surprise
For the three-month period that ended June 29, Eastman Chemical Company had $4.59 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $272.0 million in the quarter, while revenues were grew 5.88%. The analyst consensus anticipated Eastman Chemical Company’s latest quarter earnings to come in at $1.93 per share, but it turned out to be $1.99, a 3.10% surprise. For the quarter, EBITDA amounted to $461.0 million. Shareholders own equity worth $118.56 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Eastman Chemical Company (EMN) price momentum. RSI 9-day as of the close on 25 August was 37.85%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.25%.
As of today, EMN’s price is $82.26 -2.03% or -$1.70 from its 5-day moving average. EMN is currently trading -5.18% lower than its 20-day SMA and -2.94% lower than its 100-day SMA. However, the stock’s current price level is -0.05% below the SMA50 and +1.66% above the SMA200.
The stochastic %K and %D were 17.45% and 20.99%, respectively, and the average true range (ATR) was 1.64. With the 14-day stochastic at 17.18% and the average true range at 1.76, the RSI (14) stands at 41.39%. The stock has reached -0.43 on the 9-day MACD Oscillator while the 14-day reading was at -1.21.
Analyst Ratings
Piper Sandler downgraded Eastman Chemical Company (NYSE: EMN) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Overweight. The consensus rating for Eastman Chemical Company (EMN) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell EMN, while 14 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 8 others rate it as a “buy”.
What is EMN’s price target for the next 12 months?
Analysts predict a range of price targets between $78.00 and $115.00, with a median target of $92.10. Taking a look at these predictions, the average price target given by analysts for Eastman Chemical Company (EMN) stock is $94.62.
