Equities research analysts expect Celanese Corporation (NYSE:CE) to report earnings of $1.84 per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Celanese’s earnings, with estimates ranging from $1.80 to $1.97. Celanese posted earnings per share of $1.52 during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.1%. The business is expected to announce its next quarterly earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Celanese will report full-year earnings of $7.37 per share for the current financial year, with EPS estimates ranging from $7.33 to $7.50. For the next year, analysts expect that the business will report earnings of $8.23 per share, with EPS estimates ranging from $8.10 to $8.45. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Celanese.
Celanese (NYSE:CE) last announced its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.01. Celanese had a net margin of 13.66% and a return on equity of 31.98%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $1.67 EPS. The company’s revenue was up 18.4% on a year-over-year basis.
Several equities research analysts have recently weighed in on CE shares. Royal Bank Of Canada reiterated a “buy” rating and set a $109.00 price objective on shares of Celanese in a research report on Wednesday, September 6th. BidaskClub upgraded shares of Celanese from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. KeyCorp reiterated a “buy” rating and set a $106.00 price objective on shares of Celanese in a research report on Thursday, August 24th. ValuEngine cut shares of Celanese from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Finally, Citigroup Inc. decreased their price objective on shares of Celanese from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $107.74.
In related news, CFO Christopher W. Jensen sold 1,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the transaction, the chief financial officer now directly owns 60,086 shares of the company’s stock, valued at $6,289,802.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John K. Wulff sold 2,500 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total transaction of $264,700.00. Following the transaction, the director now directly owns 30,175 shares in the company, valued at $3,194,929. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Honkamp Krueger Financial Services Inc. lifted its stake in shares of Celanese by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,670 shares of the basic materials company’s stock valued at $253,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of Celanese by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,276 shares of the basic materials company’s stock valued at $501,000 after buying an additional 14 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Celanese by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,732 shares of the basic materials company’s stock valued at $1,494,000 after buying an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Celanese by 6.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,919 shares of the basic materials company’s stock valued at $182,000 after buying an additional 122 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Celanese by 8.4% in the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock valued at $164,000 after buying an additional 134 shares in the last quarter. 96.76% of the stock is currently owned by institutional investors and hedge funds.
Celanese (NYSE:CE) traded up $0.79 on Thursday, hitting $106.72. 171,006 shares of the stock traded hands, compared to its average volume of 660,063. Celanese has a 52 week low of $75.79 and a 52 week high of $109.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69. The firm has a market capitalization of $14,480.00, a PE ratio of 15.14, a PEG ratio of 1.61 and a beta of 1.31.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Monday, October 30th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, October 27th. Celanese’s dividend payout ratio is presently 31.62%.
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Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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