S&P 500 (NYSE:SPY) component Eastman Chemical Company (NYSE:EMN) will unveil its latest earnings on Thursday, July 28, 2011. Eastman Chemical Co. is a global company which manufactures and sells chemicals, plastics, and fibers products to customers in seven countries.
Eastman Chemical Company Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of $2.60 per share, a rise of 26.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $2.13. Between one and three months ago, the average estimate moved up, and has risen from $2.54 during the last month. For the year, analysts are projecting net income of $9.33 per share, a rise of 34.2% from last year.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported profit of $2.52 per share against a mean estimate of net income of $1.97 per share. In the fourth quarter of the last fiscal year, it missed forecasts by 8 cents.
Wall St. Revenue Expectations: On average, analysts predict $1.81 billion in revenue this quarter, a rise of 5.2% from the year ago quarter. Analysts are forecasting total revenue of $6.92 billion for the year, a rise of 18.5% from last year’s revenue of $5.84 billion.
Analyst Ratings: Analysts are bullish on this stock with seven analysts rating it as a buy, none rating it as a sell and two rating it as a hold.
Revenue rose in the first quarter after seeing a drop the quarter before. Revenue rose 12.4% to $1.76 billion in the first quarter from the year earlier. In the fourth quarter of the last fiscal year, revenue fell 37.9%.
Competitors to Watch: The Dow Chemical Company (NYSE:DOW), PolyOne Corporation (NYSE:POL), FMC Corporation (NYSE:FMC), Ashland Inc. (NYSE:ASH), A. Schulman, Inc. (NASDAQ:SHLM), Westlake Chemical Corp. (NYSE:WLK), Huntsman Corporation (NYSE:HUN), Kraton Performance Polymers Inc (NYSE:KRA), E.I. du Pont de Nemours & Co. (NYSE:DD), and Albemarle Corporation (NYSE:ALB).
Stock Price Performance: During June 23, 2011 to July 22, 2011, the stock price had risen $5.47 (5.5%) from $98.97 to $104.44. The stock price saw one of its best stretches over the last year between April 18, 2011 and April 29, 2011 when shares rose for nine-straight days, rising 9.6% (+$9.34) over that span. It saw one of its worst periods between July 7, 2011 and July 14, 2011 when shares fell for six-straight days, falling 5% (-$5.27) over that span. Shares are up $21.18 (+25.4%) year to date.
(Source: Xignite Financials)