Celanese Co. (NYSE:CE) – Investment analysts at Jefferies Financial Group raised their Q4 2019 earnings estimates for Celanese in a research note issued on Wednesday, June 19th, Zacks Investment Research reports. Jefferies Financial Group analyst L. Alexander now anticipates that the basic materials company will post earnings of $2.73 per share for the quarter, up from their previous estimate of $2.40. Jefferies Financial Group also issued estimates for Celanese’s FY2021 earnings at $12.85 EPS.
Celanese (NYSE:CE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.13. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm posted $2.79 earnings per share. The business’s revenue for the quarter was down 8.9% on a year-over-year basis.
Shares of CE traded up $1.68 during midday trading on Friday, hitting $107.01. The stock had a trading volume of 714,494 shares, compared to its average volume of 919,101. Celanese has a 1 year low of $82.91 and a 1 year high of $119.29. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 1.03 and a beta of 1.42. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $103.27.
In other Celanese news, Director John K. Wulff sold 9,175 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the transaction, the director now directly owns 19,872 shares in the company, valued at approximately $2,152,535.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Acima Private Wealth LLC boosted its holdings in shares of Celanese by 28.6% in the 1st quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares in the last quarter. Avitas Wealth Management LLC boosted its holdings in shares of Celanese by 0.4% in the 1st quarter. Avitas Wealth Management LLC now owns 27,611 shares of the basic materials company’s stock valued at $2,723,000 after buying an additional 103 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Celanese by 31.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 524 shares of the basic materials company’s stock valued at $56,000 after buying an additional 125 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its holdings in shares of Celanese by 1.6% in the 4th quarter. Bell & Brown Wealth Advisors LLC now owns 11,325 shares of the basic materials company’s stock valued at $1,019,000 after buying an additional 175 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Celanese by 2.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,489 shares of the basic materials company’s stock valued at $738,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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