Eastman Chemical Company ($EMN) Stock Forecast: Down 1.0% Today

What is Eastman Chemical Company?

Eastman Chemical (NYSE: EMN) is a global specialty chemical company that produces a broad range of advanced materials, additives, and functional products. The company has recently reported strong first-quarter earnings, beating market expectations.

Why is Eastman Chemical Company going down?

EMN stock is down 1.0% on Apr 29, 2024 15:01

• Despite surpassing market expectations in Q1, EMN stock showed a bearish trend.
• An increase in the share price target and stock upgrade due to positive future earnings outlook did not curtail the downward movement.
• Investors may have engaged in profit-taking following the recent positive stock performance, influencing the market reaction.
• The bearish movement in EMN stock today could be due to investor anticipation of even higher results despite the positive news.

EMN Price Chart

EMN Technical Analysis

EMN News

These Analysts Revise Their Forecasts On Eastman Chemical After Q1 Earnings

Eastman Chemical (NYSE: EMN ) reported better-than-expected first-quarter earnings after the closing bell on Thursday. Eastman Chemical posted adjusted earnings of $1.61 per share, beating market expectations of $1.43 per share. The company''s quarterly sales came in at $2.310 billion versus estimates of $2.293 billion, according to data from Benzinga Pro . “We delivered strong sequential earnings growth in the first quarter, above the high-end of our initial expectations,” said Mark Costa, Board Chair and CEO. “In the first quarter, we were … Full story available on Benzinga.com

https://www.benzinga.com/news/earnings/24/04/38489535/these-analysts-revise-their-forecasts-on-eastman-chemical-after-q1-earnings

Jefferies raises Eastman Chemical share price target on positive outlook

https://www.investing.com/news/company-news/jefferies-raises-eastman-chemical-share-price-target-on-positive-outlook-93CH-3402641

https://www.investing.com/news/company-news/jefferies-raises-eastman-chemical-share-price-target-on-positive-outlook-93CH-3402641

Jefferies upgrades Eastman Chemical stock, bullish on future earnings and margin growth

https://www.investing.com/news/company-news/jefferies-upgrades-eastman-chemical-stock-bullish-on-future-earnings-and-margin-growth-93CH-3402423

https://www.investing.com/news/company-news/jefferies-upgrades-eastman-chemical-stock-bullish-on-future-earnings-and-margin-growth-93CH-3402423

Eastman's ( EMN ) Q1 Earnings and Sales Surpass Estimates

Eastman's (EMN) sales volume & earnings rise sequentially in Q1, driven by a return to primary demand for many of its specialty products in Advanced Materials and Additives & Functional Products units.

https://www.zacks.com/stock/news/2263013/eastmans-emn-q1-earnings-and-sales-surpass-estimates

EMN Stock Earnings: Eastman Chemical Beats EPS, Beats Revenue for Q1 2024

Eastman Chemical (NYSE: EMN ) just reported results for the first quarter of 2024. Eastman Chemical reported earnings per share of $1.61. This was above the analyst estimate for EPS of $1.43. The company reported revenue of $2.31 billion. This was 0.87% better than the analyst estimate for revenue of $2.29 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com. More From InvestorPlace The #1 AI Investment Might Be This Company You’ve Never Heard Of Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. It doesn’t matter if you have $500 or $5 million.

https://investorplace.com/earning-results/2024/04/emn-stock-earnings-eastman-chemical-for-q1-of-2024/

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Eastman Chemical Company Price History

29.03.2024 - EMN Stock was down 1.0%

• Despite surpassing market expectations in Q1, EMN stock showed a bearish trend.
• An increase in the share price target and stock upgrade due to positive future earnings outlook did not curtail the downward movement.
• Investors may have engaged in profit-taking following the recent positive stock performance, influencing the market reaction.
• The bearish movement in EMN stock today could be due to investor anticipation of even higher results despite the positive news.

26.03.2024 - EMN Stock was up 0.1%

• EMN stock witnessed a notable upswing in trading activity recently.
• The company's Q1 financial results outperformed expectations, primarily due to increased demand for its specialty products in key segments like Advanced Materials and Additives & Functional Products.
• Surpassing both earnings per share and revenue projections for Q1 2024, EMN garnered positive investor sentiment.
• With a substantial rise in sales volume/mix and earnings, along with exceeding profit forecasts, Eastman Chemical demonstrated robust performance and growth potential, drawing interest from investors.

27.09.2023 - EMN Stock was up 5.2%

• The bullish movement in EMN stock today can be attributed to the following factors:
• 1. Strong Q3 Earnings: Despite a decline in revenues due to lower sales volume and reduced selling prices, Eastman Chemical (EMN) managed to beat earnings and revenue estimates. This positive surprise in financial performance likely boosted investor confidence and contributed to the bullish movement.
• 2. Cost-cutting and Productivity Initiatives: Eastman Chemical's focus on cost-cutting and productivity initiatives is expected to have positively impacted their Q3 results. These efforts likely helped improve profitability and efficiency, which could have attracted investors and contributed to the bullish movement.
• 3. Innovation-driven Growth Strategy: Eastman Chemical's innovation-driven growth strategy is another factor that may have influenced the bullish movement. Amid demand weakness in Q3, the company's emphasis on innovation and new product development might have positioned them favorably in the market, leading to increased investor optimism.
• 4. Beating Expectations: Eastman Chemical's ability to beat earnings expectations, even if by a small margin, could have generated positive sentiment among investors. This positive surprise might have sparked buying interest and contributed to the bullish movement in the stock.
• Overall, the combination of strong Q3 earnings, cost-cutting initiatives, innovation-driven growth strategy, and beating expectations likely drove the bullish movement in EMN stock today.