Brokerages Expect Celanese Corporation (CE) to Post $1.74 Earnings Per Share
Equities analysts expect that Celanese Corporation (NYSE:CE) will report $1.74 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Celanese Corporation’s earnings. The highest EPS estimate is $1.81 and the lowest is $1.67. Celanese Corporation posted earnings per share of $1.59 during the same quarter last year, which would suggest a positive year over year growth rate of 9.4%. The business is scheduled to report its next earnings results on Monday, July 24th.
On average, analysts expect that Celanese Corporation will report full year earnings of $7.30 per share for the current fiscal year, with EPS estimates ranging from $7.23 to $7.39. For the next year, analysts anticipate that the company will report earnings of $8.09 per share, with EPS estimates ranging from $7.90 to $8.25. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Celanese Corporation.
Celanese Corporation (NYSE:CE) last issued its quarterly earnings results on Monday, April 17th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.09. Celanese Corporation had a return on equity of 30.92% and a net margin of 15.14%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year.
A number of research analysts have recently weighed in on the company. Instinet raised their price objective on Celanese Corporation from $77.00 to $88.00 and gave the company a “neutral” rating in a research report on Wednesday, April 19th. Citigroup Inc. raised their price objective on Celanese Corporation from $100.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Vetr upgraded Celanese Corporation from a “buy” rating to a “strong-buy” rating and set a $103.79 price objective for the company in a research report on Thursday, April 6th. Barclays PLC cut their price objective on Celanese Corporation from $105.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, April 25th. Finally, Jefferies Group LLC restated a “buy” rating and set a $104.00 price objective (up previously from $100.00) on shares of Celanese Corporation in a research report on Saturday, April 22nd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $93.79.
A number of hedge funds have recently made changes to their positions in CE. Pitcairn Co. purchased a new stake in shares of Celanese Corporation during the fourth quarter valued at about $225,000. Aberdeen Asset Management PLC UK purchased a new stake in shares of Celanese Corporation during the fourth quarter valued at about $555,000. Bessemer Group Inc. increased its stake in shares of Celanese Corporation by 26.9% in the fourth quarter. Bessemer Group Inc. now owns 1,694 shares of the basic materials company’s stock valued at $134,000 after buying an additional 359 shares during the last quarter. Comerica Bank purchased a new stake in shares of Celanese Corporation during the fourth quarter valued at about $599,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Celanese Corporation during the fourth quarter valued at about $288,000. 98.37% of the stock is owned by institutional investors and hedge funds.
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Shares of Celanese Corporation (CE) traded up 0.48% during midday trading on Thursday, reaching $90.52. The company’s stock had a trading volume of 813,192 shares. The company has a market cap of $12.62 billion, a PE ratio of 15.77 and a beta of 1.17. The company’s 50-day moving average price is $87.19 and its 200-day moving average price is $86.58. Celanese Corporation has a 12 month low of $60.59 and a 12 month high of $93.06.
About Celanese Corporation
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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