Eastman Chemical Co (NYSE: EMN) has reported earnings for its second fiscal quarter (ending June 30) of $1.96 versus $2.28 for the same period a year ago — a decline of -14%. This result fell short of the consensus estimate of $2.02 by $-0.06. For the latest four quarters through June 30, E.P.S. were $7.50 versus $5.90 for the same period a year ago — an increase of 27%.
Recent Price Action
On 7/25/24, Eastman Chemical Co (NYSE: EMN) stock rose modestly by 0.8%, closing at $97.14. Moreover, trading volume in this advance was above average at 138% of normal. Relative to the market the stock has been strong over the last nine months but has declined -3.3% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, EMN is expected to continue to be a major Value Builder.
Eastman Chemical has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Eastman Chemical has a neutral Appreciation Score of 54 but a good Power Rating of 74, producing the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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