Eastman Chemical Company (EMN - Free Report) announced that it will expand its capacity to produce tertiary amines at its Ghent, Belgium, plant to meet the increasing demand for hand sanitizers, wipes, sprays, liquid dish soap and other household cleaning products.
In the wake of COVID-19 pandemic, Eastman is taking its responsibilities toward customers seriously to enhance cleanliness and safety. It is the world’s leading producer of tertiary amines and hence is making significant investments to cater to this important market.
Eastman has already expanded its capacity at the Pace, Florida unit, making it the largest tertiary amine unit in the world. Further investments are being considered there as well.
Shares of Eastman have rallied 30.9% over a year compared with 11.6% rise of its industry.
Eastman’s adjusted earnings and sales in the third quarter beat the respective Zacks Consensus Estimate. It entered the fourth quarter with strong momentum and expects adjusted earnings per share (EPS) for fourth quarter to be similar to fourth-quarter 2019 adjusted EPS of $1.42.
The company is also on track to deliver roughly $150 million of cost savings in 2020 with around $40 million expected in the fourth quarter. Moreover, it expects to generate more than $1 billion of free cash flow this year.
Zacks Rank and Key Picks
Eastman currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the basic materials space are Bunge Limited (BG - Free Report) , Silvercorp Metals Inc. (SVM - Free Report) , and Pretium Resources Inc. .
Bunge has a projected earnings growth rate of 43% for the current year. The company’s shares have gained around 11% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Silvercorp has an expected earnings growth rate of 40% for the current year. The company’s shares have rallied around 24% in the past year. It currently carries a Zacks Rank #2 (Buy).
Pretium Resources has an expected earnings growth rate of 25.5% for the current year. The company’s shares have gained around 13% in the past year. It currently carries a Zacks Rank #2.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Eastman Chemical Company (EMN - Free Report) announced that it will expand its capacity to produce tertiary amines at its Ghent, Belgium, plant to meet the increasing demand for hand sanitizers, wipes, sprays, liquid dish soap and other household cleaning products.
In the wake of COVID-19 pandemic, Eastman is taking its responsibilities toward customers seriously to enhance cleanliness and safety. It is the world’s leading producer of tertiary amines and hence is making significant investments to cater to this important market.
Eastman has already expanded its capacity at the Pace, Florida unit, making it the largest tertiary amine unit in the world. Further investments are being considered there as well.
Shares of Eastman have rallied 30.9% over a year compared with 11.6% rise of its industry.
Eastman’s adjusted earnings and sales in the third quarter beat the respective Zacks Consensus Estimate. It entered the fourth quarter with strong momentum and expects adjusted earnings per share (EPS) for fourth quarter to be similar to fourth-quarter 2019 adjusted EPS of $1.42.
The company is also on track to deliver roughly $150 million of cost savings in 2020 with around $40 million expected in the fourth quarter. Moreover, it expects to generate more than $1 billion of free cash flow this year.
Zacks Rank and Key Picks
Eastman currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the basic materials space are Bunge Limited (BG - Free Report) , Silvercorp Metals Inc. (SVM - Free Report) , and Pretium Resources Inc. .
Bunge has a projected earnings growth rate of 43% for the current year. The company’s shares have gained around 11% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Silvercorp has an expected earnings growth rate of 40% for the current year. The company’s shares have rallied around 24% in the past year. It currently carries a Zacks Rank #2 (Buy).
Pretium Resources has an expected earnings growth rate of 25.5% for the current year. The company’s shares have gained around 13% in the past year. It currently carries a Zacks Rank #2.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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