Eastman Chemical Company (EMN), with a market cap of $10.3 billion, is a leading specialty materials and chemical company. Based in Kingsport, Tennessee, it produces a diverse range of chemicals, plastics, and fibers, serving markets such as transportation, construction, agriculture, and electronics worldwide. The company is expected to announce its fiscal Q4 earnings results after the market closes on Thursday, Jan. 30.
Ahead of this event, analysts expect EMN maker to report a profit of $1.58 per share, up 20.6% from $1.31 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in the last four quarterly reports. In the most recent quarter, the company exceeded the consensus estimate by a 6.1% margin.
For fiscal 2024, analysts expect EMN to report EPS of $7.61, up 18.9% from $6.40 in fiscal 2023. Looking forward to fiscal 2025, EPS is expected to grow 12.5% year-over-year to $8.56.
Over the past year, EMN shares have climbed 5.8%, lagging behind the S&P 500 Index's ($SPX) 22.1% rise. However, the shares have outpaced the Materials Select Sector SPDR Fund’s (XLB) 3.3% returns over the same time frame.
On Jan. 14, shares of Eastman Chemical rose over 2% after Bank of America Global Research upgraded its rating from “Neutral” to “Buy”, setting a price target of $109.
On the other hand, EMN reported its Q3 results on Oct. 31, and its shares dropped more than 3% in the following trading session. Its topline and bottom line both topped the Street expectations.
Analysts' consensus rating on Eastman Chemical stock is cautiously optimistic, with a "Moderate Buy" rating overall. Out of 16 analysts covering the stock, opinions include six "Strong Buys," one "Moderate Buy," and nine "Holds." The average analyst price target for EMN is $115.29, suggesting a potential upside of 25.4% from current price levels.
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