Revenue Update on Eastman Chemical Company(NYSE:EMN)

Eastman Chemical Company(NYSE:EMN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $2.30B. Analysts estimated a revenue of $2.36B. Earnings per share were $1.68. Analysts had estimated an EPS of $1.73.

In a different note, On Jul 11, 2016, Nomura said it Maintains its rating on Eastman Chemical Company. In the research note, the firm Lowers the price-target to $83.00 per share. The shares have been rated ‘Buy’ by the firm. On May 2, 2016, CLSA said it Downgrades its rating on Eastman Chemical Company. The shares have been rated ‘Underperform’ by the firm. On May 2, 2016, Deutsche Bank said it Maintains its rating on Eastman Chemical Company. In the research note, the firm Raises the price-target to $75.00 per share. The shares have been rated ‘Buy’ by the firm.

Eastman Chemical Company (EMN) shares turned negative on Thursdays trading session with the shares closing down -0.14 points or -0.22% at a volume of 12,41,952. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $65.255. The peak price level was also seen at $65.255 while the days lowest was $64.66. Finally the shares closed at $64.78. The 52-week high of the shares is $79.81 while the 52-week low is $56.03. According to the latest information available, the market cap of the company is $9,577 M.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, Mark J Costa (Chief Executive Officer) sold 38,400 shares at $75.21 per share price.Also, On May 6, 2016, Scott V. King (CAO & Controller) sold 12,000 shares at $75.47 per share price.On Feb 26, 2016, Ronald Carter Lindsay (Chief Operating Officer) sold 55,000 shares at $64.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP) Adhesives & Plasticizers (A&P) Advanced Materials (AM) Fibers and Specialty Fluids & Intermediates (SFI). The Company manufactures chemicals for products in the coatings and tires industries in transportation building and construction durable goods and consumables markets in the Additives & Functional Products segment. The Company’s A&P segment focuses on producing intermediate chemicals. The Company’s the AM segment produces and markets specialty copolyesters cellulose esters interlayers. In the Fibers segment Eastman manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers. The Company’s SFI segment offers products such as acetyl chemical intermediates olefin derivatives specialty fluids and alkylamines.

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