Eastman Chemical Company Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Eastman Chemical Company (NYSE:EMN) will unveil its latest earnings on Thursday, October 27, 2011. Eastman Chemical 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 $1.11 per share, a decline of 4.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.17. Between one and three months ago, the average estimate moved down. It also has dropped from $1.12 during the last month. For the year, analysts are projecting net income of $4.64 per share, a rise of 33.7% from last year.

Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported profit of $1.38 per share against a mean estimate of net income of $1.30, and the quarter before, the company exceeded forecasts by 27 cents with profit of $1.26 versus a mean estimate of net income of 99 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 0.6% in revenue from the year-earlier quarter to $1.74 billion.

Analyst Ratings: Analysts are bullish on this stock with six analysts rating it as a buy, none rating it as a sell and three rating it as a hold.

A Look Back: In the second quarter, profit rose 42.6% to $211 million ($1.46 a share) from $148 million ($1.01 a share) the year earlier, exceeding analyst expectations. Revenue rose 9.3% to $1.89 billion from $1.72 billion.

Key Stats:

The company’s revenue has risen for two straight quarters. In the first quarter, the figure rose 12.4%.

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 July 28, 2011 to October 21, 2011, the stock price had fallen $12.26 (-24.7%) from $49.72 to $37.46. 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% (+$4.64) over that span. It saw one of its worst periods between July 21, 2011 and July 29, 2011 when shares fell for seven-straight days, falling 7.5% (-$3.91) over that span. Shares are down $3.87 (-9.4%) year to date.

(Source: Xignite Financials)

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