Eastman Chemical (EMN) Poised On Cost Cuts Amid Headwinds

 | Nov 26, 2017 08:23PM ET

We issued an updated research report on Eastman Chemical Company (NYSE:EMN) on Nov 24.
Eastman Chemical saw higher profits in the third quarter of 2017, driven by its cost management actions, disciplined capital allocation and growth of high-margin products. Its adjusted earnings were $2.19 per share for the third quarter, up from $1.86 in the year ago-quarter. Earnings topped the Zacks Consensus Estimate of $2.03. Revenues rose around 8% year over year to $2,465 million in the quarter, beating the Zacks Consensus Estimate of $2,387 million.
Eastman Chemical has underperformed the

Eastman Chemical Company Quote

Zacks Rank & Stocks to Consider

Eastman Chemical currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Ingevity Corporation (NYSE:NGVT) , Koppers Holding Inc. (NYSE:KOP) and Westlake Chemical Corporation (NYSE:WLK) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here .

Ingevity has expected long-term earnings growth of 12%. Its shares have gained 39% year to date.

Koppers Holding has expected long-term earnings growth of 18%. Its shares have rallied 20.8% year to date.

Westlake Chemical has expected long-term earnings growth of 10.6%. Its shares have moved up 68.9% year to date.

Will You Make a Fortune on the Shift to Electric Cars?

Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

Zacks Investment Research

Get The News You Want
Read market moving news with a personalized feed of stocks you care about.
Get The App

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes