Eastman Chemical Company has experienced fluctuations in its stock performance lately, despite daily gains and losses. With 86-88% ownership by
institutional investors, they have significant stakes in the business. Their shares have been acquired by several entities, including
Truist Financial Corp,
AQR Capital Management LLC, and
Susquehanna Fundamental Investments LLC. A
SWOT analysis suggests that their stock outlook is being driven by recycling tech. The company has also made news for its
third-quarter and
second-quarter financial results in 2024, and has scheduled earnings calls and teleconferences and webcasts for 2023 and 2024. It’s
Q2 2024 earnings saw an EPS of $1.94 which missed. The company's share performance over the past several months has been impressive with gains of 14-18% over different periods. There was also an announcement made for a
cash tender offer to purchase up to $250 million of outstanding 3.800% notes due 2025. However, the company plans on laying off 60 employees and closing a manufacturing line.
The CFO of Eastman, Willie McLain, is set to address the Morgan Stanley 12th Annual Laguna Conference and the J.P. Morgan Industrials Conference. With a fresh 52-week high of $111.93, the company's shares have been experiencing strong growth. Their earnings are expected to beat estimates again in the next report. The company has been focusing on sustainability which can be seen in their unveiling of Naia Renew for Denim and the combination of molecular recycling with groundbreaking clean energy.
Eastman Chemical Company EMN News Analytics from Mon, 16 Oct 2023 11:58:05 GMT to Fri, 04 Oct 2024 21:18:00 GMT -
Rating 8
- Innovation 6
- Information 7
- Rumor 2
