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Air Products and Chemicals, Inc. (APD) - free report >>
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Air Products and Chemicals, Inc. (APD) - free report >>
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Bear of the Day: Eastman Chemical (EMN)
The stock market has been bouncing recently, which is a great thing. We should all be celebrating the recent rally. Let’s not look a gift horse in the mouth. However, let’s not get too excited about the move here. At the end of the day, it’s going to be companies that make the most money which will eventually rise to the top. You might think that your company is going to continue to make big bucks. One way to make sure it will, is to run it through the Zacks Rank. Stocks in the bad graces of our Zacks Rank have seen earnings move in the wrong direction, to the downside.
Today’s Bear of the Day is a stock that has seen earnings move in a negative direction. It’s Eastman Chemical (EMN - Free Report) . Eastman Chemical produces a wide range of advanced materials, chemicals, and fibers. The company's products are used in a variety of industries, including transportation, building and construction, consumer goods, and industrial processes. Eastman's portfolio includes products such as chemicals for the production of plastic resins, performance films and fibers, specialty plastics, and chemical intermediates. The company operates globally, with a significant presence in the Americas, Europe, and Asia. Eastman's business strategy focuses on innovation and sustainability, and the company invests heavily in research and development to create new products and improve existing ones.
Image Source: Zacks Investment Research
Over the course of the last seven days, seven analysts have cut their earnings estimates for the current year, while three have done so for next year. The bearish sentiment has cut our Zacks Consensus Estimate for the current year from $8.49 to $7.85 while next year’s number is off from $9.37 to $8.63.
Investors looking for other stocks within the Chemical – Diversified Peers industry have a few stocks within the good graces of our Zacks Rank to check out. These include Zacks Rank #2 (Buy) Air Products and Chemicals (APD - Free Report) and BASF (BASFY - Free Report) .