Eastman Chemical Company (EMN - Free Report) is set to launch its latest portfolio highlighting the newest members of the Eastman Embrace family of resins for shrink film. It will be launched at the SPC Impact Conference, which is scheduled April 1 to 4, at the Westin Seattle in Seattle, WA. The new portfolio offers solutions for recycling shrink-labeled PET packaging.
Eastman Smart Recycle Portfolio offers three solutions — Eastman Embrace Encore copolyester, Eastman Embrace Float copolyester and Sun Chemical SunLam De-seaming Adhesive. Notably, these solutions are recognized by the Association of Plastic Recyclers (“APR”). Additionally, Embrace Float and Embrace Encore have received APR’s Critical Guidance recognition. SunLam De-seaming Adhesive also has APR’s Responsible Innovation Acknowledgment.
The Embrace family of resins are geared for high-performing shrink films, which enable 360-degree graphics and eye-catching designs for highly contoured, unique packaging. With the availability of three recyclability solutions for shrink film, brand owners have the flexibility to choose a resin that works best for them without compromising sustainability goals.
Eastman Chemical’s shares have lost 28.6% in the past year compared with the 14.6% decline of the industry.
In February 2019, Eastman Chemical stated that it sees slower economic growth in 2019. Also, the company expects some of the challenges that it witnessed in the fourth quarter to persist in the first quarter of 2019. The company is focused on growing new business revenues by leveraging its innovation-driven growth model.
The company also expects to gain from lower raw material costs and cost-management actions. It will remain committed to return cash to shareholders through consistent share repurchases. It expects these initiatives to more than offset the unfavorable impact of a strengthening U.S. dollar and expected higher pension costs. The company expects adjusted earnings per share growth of 6-10% in 2019.
Zacks Rank & Key Picks
Eastman Chemical currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are Kirkland Lake Gold Ltd. (KL - Free Report) , Ingevity Corporation (NGVT - Free Report) and Materion Corporation (MTRN - Free Report) , all currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kirkland has an expected earnings growth rate of 8.8% for 2019. The company’s shares have surged 114.4% in the past year.
Ingevity has an expected earnings growth rate of 17.9% for the current year. The company’s shares have rallied 47% in a year’s time.
Materion has an expected earnings growth rate of 12.6% for 2019. Its shares have gained 10% in a year’s time.
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