Eastman Chemical Company Can’t Be More Risky. Option Traders Sell It

 Eastman Chemical Company Can't Be More Risky. Option Traders Sell It

In today’s session Eastman Chemical Company (EMN) recorded an unusually high (1,354) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious EMN decrease. With 1,354 contracts traded and 154 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: EMN161118P00067500 closed last at: $0.7 or 70.8% down. About 544,159 shares traded hands. Eastman Chemical Company (NYSE:EMN) has declined 1.86% since March 30, 2016 and is downtrending. It has underperformed by 4.87% the S&P500.

Analysts await Eastman Chemical Company (NYSE:EMN) to report earnings on November, 3. They expect $1.65 EPS, down 10.33% or $0.19 from last year’s $1.84 per share. EMN’s profit will be $243.38M for 10.99 P/E if the $1.65 EPS becomes a reality. After $1.68 actual EPS 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 24 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The stock of Eastman Chemical Company (NYSE:EMN) has “Neutral” rating given on Wednesday, September 7 by Citigroup. The rating was initiated by Susquehanna on Friday, July 1 with “Positive”. The firm has “Outperform” rating given on Tuesday, August 23 by Cowen & Co. The stock of Eastman Chemical Company (NYSE:EMN) earned “Underperform” rating by CLSA on Monday, May 2. The firm has “Overweight” rating by KeyBanc Capital Markets given on Thursday, March 17. Deutsche Bank maintained Eastman Chemical Company (NYSE:EMN) on Thursday, August 20 with “Buy” rating. The stock of Eastman Chemical Company (NYSE:EMN) has “Sector Perform” rating given on Tuesday, August 2 by RBC Capital Markets. JP Morgan maintained Eastman Chemical Company (NYSE:EMN) rating on Monday, November 2. JP Morgan has “Overweight” rating and $85 price target. The stock of Eastman Chemical Company (NYSE:EMN) earned “Sector Perform” rating by RBC Capital Markets on Monday, October 31. The firm has “Buy” rating given on Monday, May 2 by Jefferies.

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 Q2 2016. 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.
Da Davidson And Company has invested 0.02% of its portfolio in Eastman Chemical Company (NYSE:EMN). Edgepoint Invest Grp, a Ontario – Canada-based fund reported 3.00 million shares. Rs Management Llc has 147,245 shares for 0.1% of their US portfolio. Livforsakringsbolaget Skandia Omsesidigt accumulated 15,873 shares or 0.05% of the stock. Dnb Asset As holds 0% or 12,336 shares in its portfolio. World Asset Management last reported 0.04% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) holds 45,733 shares or 0.04% of its portfolio. Cornercap Investment Counsel has 1.37% invested in the company for 106,313 shares. Geneva Advsr Limited Liability Company holds 0.01% or 8,860 shares in its portfolio. Dalton Greiner Hartman Maher & Com holds 0.75% of its portfolio in Eastman Chemical Company (NYSE:EMN) for 178,362 shares. Rnc Capital Mngmt Ltd Liability reported 3,813 shares or 0.02% of all its holdings. Element Capital Management Ltd Com has invested 0.06% of its portfolio in Eastman Chemical Company (NYSE:EMN). Advsr Asset Mngmt holds 0% of its portfolio in Eastman Chemical Company (NYSE:EMN) for 650 shares. Amica Mutual Insur Company accumulated 8,665 shares or 0.06% of the stock. Caisse De Depot Et Placement Du Quebec holds 0.01% of its portfolio in Eastman Chemical Company (NYSE:EMN) for 53,195 shares.

Insider Transactions: Since May 4, 2016, the stock had 0 insider purchases, and 1 insider sale for $2.89 million net activity. Shares for $2.89 million were sold by Costa Mark J on Monday, May 9. $905,720 worth of shares were sold by King Scott V. on Wednesday, May 4.

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 $10.70 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 12.22 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.

Another recent and important Eastman Chemical Company (NYSE:EMN) news was published by Nasdaq.com which published an article titled: “Eastman Chemical Company Announces Cash Tender Offer for up to $400 Million in …” on October 31, 2016.

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.

Related posts

Leave a Comment