We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Eastman (EMN) Teams With Gruppo Maip for Automotive Materials
Read MoreHide Full Article
Eastman Chemical Company (EMN - Free Report) recently announced partnership with Italy-based Gruppo Maip to formulate new sustainable polymer solutions for automotive applications. This will facilitate a range of formulations based on Eastman’s Advanced Circular Recycling technology, giving both biobased and molecular-recycled content solutions with Eastman Tritan Renew copolyester and Treva Renew engineering bioplastic.
Tritan Renew is powered by Eastman’s polyester renewal technology. It provides up to 50% certified recycled content redirected from post-consumer and postindustrial waste streams. It delivers the same high performance as virgin plastics, unlike mechanically recycled plastics.
Up to 48% of Treva Renew is biobased content sourced from sustainably managed forests. It is certified by the USDA’s Bio Preferred program. Moreover, it gains from carbon renewal technology that uses mixed waste plastic, providing an additional 23% certified recycled content.
Eastman Chemical is benefiting from its innovation-driven growth model, cost-management actions and acquisitions.
Eastman Chemical, in its third-quarter call, stated that it has entered the fourth quarter of 2020 with strong momentum. It expects adjusted earnings per share (EPS) for the fourth quarter to be similar to fourth-quarter 2019 adjusted EPS of $1.42. The company also noted that it is on track to deliver nearly $150 million of cost savings for 2020 with around $40 million expected in the fourth quarter. It also expects to generate more than $1 billion of free cash flow this year.
Eastman Chemical currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the basic materials space are New Gold Inc. (NGD - Free Report) , Barrick Gold Corporation (GOLD - Free Report) , and Pretium Resources Inc. .
Barrick Gold has an expected earnings growth rate of 115.7% for the current year. The company’s shares have surged around 42% in the past year. It currently carries a Zacks Rank #2.
Pretium Resources has an expected earnings growth rate of 25.5% for the current year. The company’s shares have gained around 15% in the past year. It currently carries a Zacks Rank #2.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity. A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
Eastman (EMN) Teams With Gruppo Maip for Automotive Materials
Eastman Chemical Company (EMN - Free Report) recently announced partnership with Italy-based Gruppo Maip to formulate new sustainable polymer solutions for automotive applications. This will facilitate a range of formulations based on Eastman’s Advanced Circular Recycling technology, giving both biobased and molecular-recycled content solutions with Eastman Tritan Renew copolyester and Treva Renew engineering bioplastic.
Tritan Renew is powered by Eastman’s polyester renewal technology. It provides up to 50% certified recycled content redirected from post-consumer and postindustrial waste streams. It delivers the same high performance as virgin plastics, unlike mechanically recycled plastics.
Up to 48% of Treva Renew is biobased content sourced from sustainably managed forests. It is certified by the USDA’s Bio Preferred program. Moreover, it gains from carbon renewal technology that uses mixed waste plastic, providing an additional 23% certified recycled content.
Eastman Chemical is benefiting from its innovation-driven growth model, cost-management actions and acquisitions.
Eastman Chemical, in its third-quarter call, stated that it has entered the fourth quarter of 2020 with strong momentum. It expects adjusted earnings per share (EPS) for the fourth quarter to be similar to fourth-quarter 2019 adjusted EPS of $1.42. The company also noted that it is on track to deliver nearly $150 million of cost savings for 2020 with around $40 million expected in the fourth quarter. It also expects to generate more than $1 billion of free cash flow this year.
Eastman Chemical Company Price and Consensus
Eastman Chemical Company price-consensus-chart | Eastman Chemical Company Quote
Zacks Rank and Key Picks
Eastman Chemical currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the basic materials space are New Gold Inc. (NGD - Free Report) , Barrick Gold Corporation (GOLD - Free Report) , and Pretium Resources Inc. .
New Gold has a projected earnings growth rate of 100% for the current year. The company’s shares have rallied around 121% in a year. It currently carries a Zacks Rack #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Barrick Gold has an expected earnings growth rate of 115.7% for the current year. The company’s shares have surged around 42% in the past year. It currently carries a Zacks Rank #2.
Pretium Resources has an expected earnings growth rate of 25.5% for the current year. The company’s shares have gained around 15% in the past year. It currently carries a Zacks Rank #2.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity. A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>