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Eastman Chemical Stock: A Slow Starter in 2017?

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Eastman Chemical’s stock performance

As of March 27, 2017, Eastman Chemical’s (EMN) YTD (year-to-date) stock performance has improved at a slow pace, returning a mere ~3.6%. EMN so far in 2017 has also underperformed the SPDR S&P 500 ETF (SPY), which has returned 4.5% during the same period.

By comparison, peers Dow Chemical (DOW), DuPont (DD), and Westlake Chemical (WLK) have returned 11.90%, 9.8%, and 14.7%, respectively.

Eastman’s stock price had been surging, after reaching a low of $63.17 in October 2016. The stock remained stable, at its current level, after EMN posted better-than-expected 4Q16 earnings. EMN has guided its adjusted EPS (earnings per share) to rise 8%–12% in 2017. EMN’s revenue could also improve in 2017 because the company has managed to hike the prices of its several products across all its regions.

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Moving averages and relative strength index

Although EMN stock has underperformed peers, however, the stock has managed to trade 1% above its 100-day moving average price of $77.13. On March 27, 2017, EMN closed 24.3% above its 52-week low of $62.70 and ~5.1 below its 52-week high of $82.10.

EMN’s 14-day RSI (relative strength index) of 56 indicates that the stock is neither overbought nor oversold. Remember, an RSI score of 70 means that a stock has moved temporarily into an overbought situation, whereas an RSI score below 30 indicates that a stock has moved temporarily into an oversold position.

Continue reading below for a closer look at Eastman’s latest dividend, dividend yields, analysts’ ratings, and latest valuations.

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