U.S. Markets close in 2 hrs 31 mins
  • S&P 500

    4,435.36
    -47.37 (-1.06%)
     
  • Dow 30

    34,491.87
    -223.52 (-0.64%)
     
  • Nasdaq

    13,936.47
    -217.55 (-1.54%)
     
  • Russell 2000

    2,015.69
    -8.34 (-0.41%)
     
  • Crude Oil

    84.89
    -0.66 (-0.77%)
     
  • Gold

    1,832.80
    -9.80 (-0.53%)
     
  • Silver

    24.34
    -0.38 (-1.52%)
     
  • EUR/USD

    1.1353
    +0.0036 (+0.32%)
     
  • 10-Yr Bond

    1.7580
    -0.0750 (-4.09%)
     
  • GBP/USD

    1.3562
    -0.0038 (-0.28%)
     
  • USD/JPY

    113.6470
    -0.4530 (-0.40%)
     
  • BTC-USD

    38,210.58
    -4,767.75 (-11.09%)
     
  • CMC Crypto 200

    898.12
    +655.44 (+270.08%)
     
  • FTSE 100

    7,494.13
    -90.88 (-1.20%)
     
  • Nikkei 225

    27,522.26
    -250.67 (-0.90%)
     

Is a Surprise Coming for Eastman Chemical (EMN) This Earnings Season?

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • EMN

Investors are always looking for stocks that are poised to beat at earnings season and Eastman Chemical Company EMN may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because for Eastman Chemical is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for EMN in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at $2.34 per share for EMN, compared to a broader Zacks Consensus Estimate of $2.32 per share. This suggests that analysts have very recently bumped up their estimates for EMN, giving the stock a Zacks Earnings ESP of +0.90% heading into earnings season.

Eastman Chemical Company Price and EPS Surprise

Eastman Chemical Company Price and EPS Surprise
Eastman Chemical Company Price and EPS Surprise

Eastman Chemical Company price-eps-surprise | Eastman Chemical Company Quote

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

Given that EMN has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for Eastman Chemical, and that a beat might be in the cards for the upcoming report.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Eastman Chemical Company (EMN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research