Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Methanex Corporation (MEOH) - free report >>
Eastman Chemical Company (EMN) - free report >>
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.
Methanex Corporation (MEOH) - free report >>
Eastman Chemical Company (EMN) - free report >>
Image: Bigstock
Eastman (EMN) Wraps Up Matrix Films & Premium Shield Buyout
Eastman Chemical Company (EMN - Free Report) has completed the purchase of the business and assets of Matrix Films, LLC and its U.K. affiliate, Premium Shield Limited, marketer of Premium Shield performance films, including its extended line of automotive film patterns. The company announced the acquisition last month.
The terms and conditions of the transaction have not yet been revealed. The newly acquired business will be part of the Performance Films business belonging to Eastman’s Advanced Materials segment.
The buyout is expected to broaden the company’s auto base in North America, Europe and the Middle East, strengthen its capabilities in paint protection film pattern development and create growth synergies. Eastman noted that the completion of this acquisition is an important step in its commitment as a leading innovator and service partner for paint protection and window film professional installers.
Shares of Eastman have rallied 30.5% in a year compared with the industry’s rise of 21.3%. The estimated earnings growth rate for the company for the current year is pegged at 49.6%.
In the last quarter’s earnings call, Eastman said that it expects continued momentum as it gains from innovation, strong end-market recovery, and cost discipline from its operations transformation program. It expects adjusted earnings per share of $8.8-$9.2 for 2021. It also anticipates free cash flow to exceed $1.1 billion for the year, which would be the fifth consecutive year of free cash flow above $1 billion.
Eastman Chemical Company Price and Consensus
Eastman Chemical Company price-consensus-chart | Eastman Chemical Company Quote
Zacks Rank & Stocks to Consider
Currently, Eastman carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Olin Corporation (OLN - Free Report) , Methanex Corporation (MEOH - Free Report) and Tronox Holdings PLC (TROX - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Olin has a projected earnings growth rate of 639.3% for the current year. The company’s shares have skyrocketed 269.6% in a year.
Methanex has a projected earnings growth rate of 422.8% for the current year. The company’s shares have climbed 90.6% in a year.
Tronox has a projected earnings growth rate of 319.6% for the current year. The company’s shares have rallied 197% in a year.