Eastman Chemical Company (NYSE: EMN) stock fell -0.74% on Thursday to $80.64 against a previous-day closing price of $81.24. With 0.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.97 million shares. The 52-week range on EMN shows that it touched its highest point at $112.78 and its lowest point at $69.91 during that stretch. It currently has a 1-year price target of $95.67. With its current market cap of 9.72 billion, EMN has annualized dividend of $3.16 while the current yield stands at 3.92%. Beta for the stock currently stands at 1.51.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EMN was down-trending over the past week, with a drop of -3.29%, but this was up by 0.77% over a month. Three-month performance dropped to -3.82% while six-month performance fell -7.18%. The stock lost -22.21% in the past year, while it has lost -0.98% so far this year. A look at the trailing 12-month EPS for EMN yields 5.61 with Next year EPS estimates of 9.05. For the next quarter, that number is 2.07. This implies an EPS growth rate of 1.60% for this year and 14.15% for next year. EPS is expected to grow by 8.93% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -2.40%.
Float and Shares Shorts:
At present, 118.90 million EMN shares are outstanding with a float of 118.16 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.99 million, which was 1.67% higher than short shares on Mar 30, 2023. In addition to Mr. Mark J. Costa as the firm’s Chairman & CEO, Mr. William Thomas McLain Jr. serves as its CFO & Sr. VP.
Institutional Ownership:
Through their ownership of 86.19% of EMN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.96% of EMN, in contrast to 36.67% held by mutual funds. Shares owned by individuals account for 2.05%. As the largest shareholder in EMN with 12.25% of the stake, The Vanguard Group, Inc. holds 14,554,084 shares worth 14,554,084. A second-largest stockholder of EMN, JPMorgan Investment Management, I, holds 6,684,492 shares, controlling over 5.63% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in EMN, holding 6,032,221 shares or 5.08% stake. With a 3.11% stake in EMN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,688,522 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.35% of EMN stock, is the second-largest Mutual Fund holder. It holds 2,788,370 shares valued at 234.98 million. Vanguard Mid Cap Index Fund holds 2.34% of the stake in EMN, owning 2,773,451 shares worth 233.72 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, EMN reported revenue of $2.78B and operating income of $418.00M. The EBITDA in the recently reported quarter was $560.00M and diluted EPS was $2.03.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EMN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EMN analysts setting a high price target of $115.00 and a low target of $80.00, the average target price over the next 12 months is $95.64. Based on these targets, EMN could surge 42.61% to reach the target high and fall by -0.79% to reach the target low. Reaching the average price target will result in a growth of 18.6% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded EMN stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 19,366 shares were bought while 5,761 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 178,731 while 62,221 shares were sold.
