EMN Stock Summary and Trading Ideas (Eastman Chemical Company | NYSE:EMN)

Established in 1920 to produce chemicals for Eastman Kodak, Eastman Chemical has grown into a global specialty chemical company with manufacturing sites around the world. The company generates the majority of its sales outside of the United States, with a strong presence in Asian markets. During the past several years, Eastman has sold noncore businesses, choosing to focus on higher-margin specialty product offerings.

Eastman Chemical Company trades on the NYSE stock market under the symbol EMN.

As of April 26, 2024, EMN stock price declined to $95.56 with 1,257,891 million shares trading.

EMN has a beta of 1.05, meaning it tends to be more sensitive to market movements. EMN has a correlation of 0.32 to the broad based SPY ETF.

EMN has a market cap of $11.24 billion. This is considered a Large Cap stock.

Last quarter Eastman Chemical Company reported $2 billion in Revenue and $1.61 earnings per share. This beat revenue expectation by $20 million and exceeded earnings estimates by $.18.

In the last 3 years, EMN stock traded as high as $130.47 and as low as $68.89.

The top ETF exchange traded funds that EMN belongs to (by Net Assets): VTI, VB, VOO, VBR, SPY.

EMN has underperformed the market in the last year with a price return of +23.7% while the SPY ETF gained +26.8%. However, in the short term, EMN had mixed performance relative to the market. It has outperformed in the last 3 months, returning +13.9% vs +4.5% return in SPY. But in the last 2 weeks, EMN shares have been beat by the market, returning -4.5% compared to an SPY return of -1.9%.

EMN support price is $94.91 and resistance is $97.35 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EMN stock will trade within this expected range on the day.