$2.44 Earnings Per Share Expected for Celanese Co. (NYSE:CE) This Quarter

Wall Street analysts forecast that Celanese Co. (NYSE:CE) will post earnings of $2.44 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Celanese’s earnings. The highest EPS estimate is $2.60 and the lowest is $2.30. Celanese posted earnings per share of $2.90 in the same quarter last year, which would indicate a negative year over year growth rate of 15.9%. The business is expected to report its next quarterly earnings report on Thursday, July 18th.

On average, analysts expect that Celanese will report full year earnings of $10.30 per share for the current financial year, with EPS estimates ranging from $9.75 to $10.58. For the next financial year, analysts expect that the company will report earnings of $11.58 per share, with EPS estimates ranging from $10.69 to $12.21. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Celanese.

Celanese (NYSE:CE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $2.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.13. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.76 billion. Celanese had a return on equity of 39.76% and a net margin of 16.89%. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period last year, the business posted $2.79 EPS.

Several brokerages have recently commented on CE. BMO Capital Markets reduced their target price on Celanese to $115.00 and set a “market perform” rating for the company in a research note on Thursday, June 20th. ValuEngine upgraded Celanese from a “sell” rating to a “hold” rating in a research note on Wednesday, June 12th. Alembic Global Advisors upgraded Celanese from an “underweight” rating to a “neutral” rating and raised their target price for the company from $95.00 to $115.00 in a research note on Monday, April 29th. Zacks Investment Research downgraded Celanese from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird raised their target price on Celanese from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $117.69.

In other Celanese news, Director John K. Wulff sold 9,175 shares of Celanese stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $108.32, for a total transaction of $993,836.00. Following the completion of the transaction, the director now owns 19,872 shares in the company, valued at approximately $2,152,535.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CE. BlackRock Inc. boosted its stake in shares of Celanese by 29.0% in the 4th quarter. BlackRock Inc. now owns 9,467,199 shares of the basic materials company’s stock worth $851,766,000 after buying an additional 2,127,883 shares during the last quarter. Norges Bank purchased a new position in shares of Celanese in the 4th quarter worth approximately $88,985,000. Geode Capital Management LLC boosted its stake in shares of Celanese by 61.5% in the 4th quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock worth $163,756,000 after buying an additional 694,491 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Celanese by 30.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,454,977 shares of the basic materials company’s stock worth $220,874,000 after buying an additional 569,316 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Celanese by 74.0% in the 4th quarter. Northern Trust Corp now owns 1,337,518 shares of the basic materials company’s stock worth $120,336,000 after buying an additional 568,909 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Shares of CE opened at $107.80 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58. The company has a 50-day moving average price of $101.85. The firm has a market cap of $13.65 billion, a P/E ratio of 9.80, a PEG ratio of 1.03 and a beta of 1.38. Celanese has a one year low of $82.91 and a one year high of $119.29.

Celanese Company Profile

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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Earnings History and Estimates for Celanese (NYSE:CE)

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