Kingsport, Tennessee-based Eastman Chemical Company (EMN) engages in the provision of specialty chemicals. With a market cap of $12.7 billion, Eastman Chemical operates through Additives & Functional Products, Advanced Materials, Chemical Intermediates, and Fibers segments.
Companies worth $10 billion or more are generally described as "large-cap stocks," Eastman Chemical fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the specialty chemicals industry. Its operations span the U.S., China, and internationally.
Eastman Chemical touched its 52-week high of $111.12 in yesterday’s trading session before slightly pulling back. EMN has gained 9.9% over the past three months, outpacing the Nasdaq Composite’s ($NASX) 3.3% gains during the same time frame.
Over the longer term, Eastman Chemical looks even more attractive. EMN surged 45.9% over the past 52 weeks and 23.1% in 2024, substantially outperforming NASX’s 36.8% gains over the past year and 20.4% returns on a YTD basis.
To confirm the bullish trend, EMN has traded above its 200-day and 50-day moving averages since November 2023.
Shares of Eastman Chemical soared 3.7% and remained in positive territory for the next four trading sessions after the release of its better-than-expected Q2 earnings on Jul. 25. The company reported a 1.7% year-over-year growth in sales, reaching $2.4 billion. Its adjusted EPS grew by 8% to $2.15, exceeding Wall Street’s consensus estimates of $1.99.
Eastman Chemical’s competitor, LyondellBasell Industries N.V. (LYB), gained 1.3% over the past year and 1.1% in 2024, underperforming EMN’s double-digit returns.
Among the 16 analysts covering the EMN stock, the consensus rating is a “Moderate Buy.” The mean price target of $111.67 suggests a marginal upside from current price levels
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
