Eastman Chemical Company (NYSE:EMN) specialty chemical manufacturer, is reporting second quarter earnings results on Monday 3rd August 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 1.05 per share from $ 1830.94 million in revenue.
For the full year, analysts predict revenues of $ 8218.42 million, while looking forward to income of $ 5.94 per share.
The Company Outlook
Full Year 2020 bottomline are predicted in a range of $ 7.20 ~ $ 7.60 per share
Click Here For More Historical Outlooks Of Eastman Chemical Company
Previous Quarter Performance
Eastman Chemical Company outlined income for the first quarter of $ 2.03 per share, from the revenue of $ 2,241.00 million. The quarterly earnings grew 14.69 percent while revenues shrunk 13.17 percent compared with the same quarter last year.
Street analysts expected Eastman Chemical Company to report income of $ 1.70 per share on revenue of $ 2257.68 million for the first quarter. The bottom line results beat street analysts by $ 0.33 or 19.41 percent, at the same time, top line results fell short of analysts by $ 16.68 million or 0.74 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of EMN was $ 74.63, representing a 116.70 % increase from the 52 week low of $ 34.44 and a 11.14 % decrease over the 52 week high of $ 83.99.
The company has a market capital of $ 10.14 billion and is part of the Basic Materials sector and Chemicals industry.
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Recent Analyst recommendations
- On 13th July 2020, maintained by KeyBanc at Overweight rating, with $ 92.00 target price.
- On 26th June 2020, maintained by Jefferies Financial Group at Buy rating, with $ 85.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.66 per share on May 7, 2020. The dividend were payable on July 10, 2020 to holders of record as of the close of business on June 15, 2020 and ex-dividend date on June 12, 2020.
Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The companys Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators. It serves the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets.
