Eastman Chemical Stock: A Slow Starter in 2017?



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.

Article continues below advertisement

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.


More From Market Realist