In today’s session Eastman Chemical Company (EMN) registered an unusually high (5,347) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious EMN increase. With 5,347 contracts traded and 8584 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: EMN170120C00075000 closed last at: $0.4 or 20% down. About 716,597 shares traded hands. Eastman Chemical Company (NYSE:EMN) has declined 9.13% since March 14, 2016 and is downtrending. It has underperformed by 14.74% the S&P500.
Analysts await Eastman Chemical Company (NYSE:EMN) to report earnings on November, 3. They expect $1.65 earnings per share, down 10.33% or $0.19 from last year’s $1.84 per share. EMN’s profit will be $245.97M for 9.65 P/E if the $1.65 EPS becomes a reality. After $1.68 actual earnings per share reported by Eastman Chemical Company for the previous quarter, Wall Street now forecasts -1.79% negative EPS growth.
Eastman Chemical Company (NYSE:EMN) Ratings Coverage
Out of 12 analysts covering Eastman Chemical Company (NYSE:EMN), 8 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 67% are positive. Eastman Chemical Company has been the topic of 23 analyst reports since July 30, 2015 according to StockzIntelligence Inc. KeyBanc Capital Markets maintained the stock with “Overweight” rating in Thursday, March 17 report. The stock has “Buy” rating given by Citigroup on Tuesday, January 5. Deutsche Bank maintained the shares of EMN in a report on Thursday, September 3 with “” rating. RBC Capital Markets initiated it with “Outperform” rating and $88 target price in Wednesday, October 14 report. The stock has “Outperform” rating given by RBC Capital Markets on Monday, November 2. On Thursday, August 20 the stock rating was maintained by Deutsche Bank with “Buy”. The stock has “Sector Perform” rating given by RBC Capital Markets on Tuesday, August 2. On Monday, May 2 the stock rating was maintained by Jefferies with “Buy”. The rating was downgraded by CLSA on Monday, May 2 to “Underperform”. The stock has “Outperform” rating given by Cowen & Co on Tuesday, August 23.
According to Zacks Investment Research, “Eastman Chemical Company is a global chemical company with a broad portfolio of chemical, plastic, and fiber products. The company manufactures and sells chemicals and specialty polymers supplied to the inks, coatings, adhesives, sealants, and textile industries; fine chemicals; performance chemicals and intermediates; specialty plastics; polyester plastics such as polyethylene terephthalate sold under the trademark EASTAPAK polymers; and fibers.”
Insitutional Activity: The institutional sentiment increased to 1.24 in 2016 Q2. Its up 0.25, from 0.99 in 2016Q1. The ratio improved, as 42 funds sold all Eastman Chemical Company shares owned while 163 reduced positions. 52 funds bought stakes while 203 increased positions. They now own 123.13 million shares or 2.38% less from 126.13 million shares in 2016Q1.
Alps holds 0% or 5,702 shares in its portfolio. Aqr Capital Management Ltd Company holds 0.05% of its portfolio in Eastman Chemical Company (NYSE:EMN) for 383,805 shares. Earnest Ltd has invested 0.41% of its portfolio in Eastman Chemical Company (NYSE:EMN). Timber Hill Limited Liability last reported 10,556 shares in the company. Shinko Asset Management Com last reported 0% of its portfolio in the stock. Bnp Paribas Arbitrage Sa accumulated 0.03% or 95,520 shares. Kbc Grp Nv holds 9,800 shares or 0.01% of its portfolio. Nj State Employees Deferred Compensation Plan has 8,000 shares for 0.12% of their US portfolio. Ontario Teachers Pension Plan Board reported 31,549 shares or 0.02% of all its holdings. Alyeska Invest Gru L P last reported 337,012 shares in the company. Iberiabank accumulated 0.61% or 20,046 shares. New York State Common Retirement Fund has 734,573 shares for 0.07% of their US portfolio. Clearbridge Invs Ltd Llc has invested 0% of its portfolio in Eastman Chemical Company (NYSE:EMN). Cadence Capital Management Limited Liability Corporation accumulated 38,105 shares or 0.2% of the stock. Putnam Invests Ltd Liability Co holds 0% or 3,202 shares in its portfolio.
Insider Transactions: Since May 4, 2016, the stock had 0 buys, and 2 sales for $3.79 million net activity. Another trade for 12,000 shares valued at $905,720 was made by King Scott V. on Wednesday, May 4. Costa Mark J sold $2.89 million worth of stock or 38,400 shares.
Eastman Chemical Company is a specialty chemicals firm that produces a range of advanced materials, chemicals and fibers. The company has a market cap of $9.49 billion. The Firm operates through five divisions: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). It has a 10.72 P/E ratio. In the AFP segment, the Company makes chemicals for products in the coatings, tires, consumables, animal nutrition, crop protection and energy markets.
EMN Company Profile
Eastman Chemical Company (Eastman), incorporated on July 29, 1993, is a specialty chemicals firm that produces a range of materials, chemicals and fibers. The Firm operates through five divisions: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). The Firm has over 50 manufacturing sites and equity interests in approximately four manufacturing joint ventures in approximately 15 countries.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.