Wall Street analysts expect that Celanese Co. (NYSE:CE) will report earnings per share (EPS) of $2.35 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Celanese’s earnings, with the lowest EPS estimate coming in at $2.25 and the highest estimate coming in at $2.52. Celanese reported earnings per share of $1.79 in the same quarter last year, which suggests a positive year-over-year growth rate of 31.3%. The company is scheduled to announce its next earnings results on Monday, July 23rd.
According to Zacks, analysts expect that Celanese will report full year earnings of $9.46 per share for the current financial year, with EPS estimates ranging from $9.20 to $10.40. For the next financial year, analysts expect that the business will report earnings of $9.93 per share, with EPS estimates ranging from $9.35 to $10.65. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Celanese.
Celanese (NYSE:CE) last issued its earnings results on Monday, April 16th. The basic materials company reported $2.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.46. Celanese had a return on equity of 35.22% and a net margin of 15.69%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business earned $1.81 EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Wednesday, April 11th. Cowen restated an “outperform” rating and issued a $125.00 price target (up previously from $120.00) on shares of Celanese in a report on Friday, May 4th. KeyCorp upped their price target on Celanese from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, March 21st. ValuEngine cut Celanese from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, BMO Capital Markets upped their price target on Celanese to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, April 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $117.25.
NYSE CE traded up $2.70 on Friday, reaching $114.00. The company had a trading volume of 1,264,413 shares, compared to its average volume of 841,328. The stock has a market cap of $15.20 billion, a PE ratio of 15.18, a P/E/G ratio of 1.32 and a beta of 1.32. Celanese has a 1 year low of $91.15 and a 1 year high of $118.40. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.91.
In other Celanese news, EVP Peter G. Edwards sold 3,674 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $115.44, for a total value of $424,126.56. Following the transaction, the executive vice president now directly owns 12,160 shares of the company’s stock, valued at approximately $1,403,750.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Celanese in the 1st quarter valued at approximately $852,000. Suntrust Banks Inc. raised its position in shares of Celanese by 50.0% during the 1st quarter. Suntrust Banks Inc. now owns 9,720 shares of the basic materials company’s stock valued at $973,000 after acquiring an additional 3,242 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Celanese by 33.7% during the 1st quarter. Allianz Asset Management GmbH now owns 195,583 shares of the basic materials company’s stock valued at $19,599,000 after acquiring an additional 49,245 shares in the last quarter. Amalgamated Bank raised its position in shares of Celanese by 6.9% during the 1st quarter. Amalgamated Bank now owns 16,513 shares of the basic materials company’s stock valued at $1,655,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Celanese by 22.9% during the 1st quarter. Principal Financial Group Inc. now owns 171,982 shares of the basic materials company’s stock valued at $17,234,000 after acquiring an additional 32,101 shares in the last quarter. 94.09% of the stock is currently owned by institutional investors.
Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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