Eastman Chemical Co (NYSE: EMN) has a higher price-to-earnings ratio of 13.00x compared to its average ratio, The 36-month beta value for EMN is at 1.52. Analysts have varying views on the stock, with 9 analysts rating it as a “buy,” 2 rating it as “overweight,” 7 as “hold,” and 0 as “sell.”
The public float for EMN is 116.90M, and currently, shorts hold a 1.88% of that float. The average trading volume for EMN on May 10, 2024 was 1.02M shares.
EMN) stock’s latest price update
The stock of Eastman Chemical Co (NYSE: EMN) has increased by 0.33 when compared to last closing price of 100.76.Despite this, the company has seen a gain of 5.39% in its stock price over the last five trading days. Seeking Alpha reported 2024-04-26 that Eastman Chemical Company (NYSE:EMN ) Q1 2024 Earnings Conference Call April 26, 2024 8:00 AM ET Company Participants Greg Riddle – IR Mark Costa – Board Chair and CEO William McLain – EVP and CFO Conference Call Participants Vincent Andrews – Morgan Stanley Aleksey Yefremov – KeyCorp Duffy Fischer – Goldman Sachs Frank Mitsch – Fermium Research David Begleiter – Deutsche Bank Jeff Zekauskas – JPMorgan John Roberts – Mizuho Kevin McCarthy – Vertical Research Partners Patrick Cunningham – Citi Josh Spector – UBS Laurence Alexander – Jefferies Mike Sison – Wells Fargo Arun Viswanathan – RBC Salvator Tiano – Bank of America Operator Good day, everyone, and welcome to the First Quarter 2024 Eastman Conference Call. Today’s conference is being recorded.
EMN’s Market Performance
EMN’s stock has risen by 5.39% in the past week, with a monthly rise of 0.44% and a quarterly rise of 21.81%. The volatility ratio for the week is 1.51% while the volatility levels for the last 30 days are 1.90% for Eastman Chemical Co The simple moving average for the last 20 days is 4.10% for EMN’s stock, with a simple moving average of 18.45% for the last 200 days.
Analysts’ Opinion of EMN
Many brokerage firms have already submitted their reports for EMN stocks, with Jefferies repeating the rating for EMN by listing it as a “Buy.” The predicted price for EMN in the upcoming period, according to Jefferies is $125 based on the research report published on April 29, 2024 of the current year 2024.
Redburn Atlantic, on the other hand, stated in their research note that they expect to see EMN reach a price target of $110. The rating they have provided for EMN stocks is “Buy” according to the report published on February 15th, 2024.
UBS gave a rating of “Neutral” to EMN, setting the target price at $81 in the report published on November 02nd of the previous year.
EMN Trading at 5.79% from the 50-Day Moving Average
After a stumble in the market that brought EMN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -1.58% of loss for the given period.
Volatility was left at 1.90%, however, over the last 30 days, the volatility rate increased by 1.51%, as shares surge +1.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.88% upper at present.
During the last 5 trading sessions, EMN rose by +5.39%, which changed the moving average for the period of 200-days by +14.11% in comparison to the 20-day moving average, which settled at $97.16. In addition, Eastman Chemical Co saw 12.55% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at EMN starting from Costa Mark J, who sale 102,390 shares at the price of $100.78 back on May 07 ’24. After this action, Costa Mark J now owns 395,699 shares of Eastman Chemical Co, valued at $10,318,864 using the latest closing price.
Holt Adrian James, the SVP, Chf HR Ofcr of Eastman Chemical Co, sale 4,735 shares at $87.75 during a trade that took place back on Mar 06 ’24, which means that Holt Adrian James is holding 0 shares at $415,519 based on the most recent closing price.
Stock Fundamentals for EMN
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 0.19 for the gross margin
The net margin for Eastman Chemical Co stands at 0.08. The total capital return value is set at 0.09. Equity return is now at value 17.25, with 6.22 for asset returns.
Based on Eastman Chemical Co (EMN), the company’s capital structure generated 0.47 points at debt to capital in total, while cash flow to debt ratio is standing at 0.28. The debt to equity ratio resting at 0.89. The interest coverage ratio of the stock is 4.76.
Currently, EBITDA for the company is 1.59 billion with net debt to EBITDA at 3.08. When we switch over and look at the enterprise to sales, we see a ratio of 1.48. The receivables turnover for the company is 9.52for trailing twelve months and the total asset turnover is 0.75. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.39.
Conclusion
In conclusion, Eastman Chemical Co (EMN) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
