Celanese Corporation (CE) Expected to Post Quarterly Sales of $1.52 Billion
Equities research analysts expect Celanese Corporation (NYSE:CE) to report sales of $1.52 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Celanese Corporation’s earnings, with estimates ranging from $1.48 billion to $1.56 billion. Celanese Corporation posted sales of $1.31 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 16%. The company is scheduled to issue its next earnings report on Wednesday, February 7th.
On average, analysts expect that Celanese Corporation will report full year sales of $1.52 billion for the current fiscal year, with estimates ranging from $6.01 billion to $6.10 billion. For the next year, analysts forecast that the company will post sales of $6.47 billion per share, with estimates ranging from $6.17 billion to $6.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Celanese Corporation.
Celanese Corporation (NYSE:CE) last released its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.01. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. Celanese Corporation’s quarterly revenue was up 18.4% compared to the same quarter last year.
A number of analysts have weighed in on CE shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $109.00 target price on shares of Celanese Corporation in a research note on Wednesday, September 6th. BidaskClub upgraded Celanese Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. KeyCorp reiterated a “buy” rating and issued a $106.00 target price on shares of Celanese Corporation in a research note on Thursday, August 24th. ValuEngine lowered Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 6th. Finally, Citigroup Inc. reduced their target price on Celanese Corporation from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Celanese Corporation has a consensus rating of “Buy” and an average target price of $107.74.
In related news, Director John K. Wulff sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total transaction of $264,700.00. Following the sale, the director now owns 30,175 shares of the company’s stock, valued at $3,194,929. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher W. Jensen sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $104.68, for a total value of $104,680.00. Following the sale, the chief financial officer now directly owns 60,086 shares in the company, valued at approximately $6,289,802.48. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CE. Northwestern Mutual Wealth Management Co. raised its stake in shares of Celanese Corporation by 24.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 206 shares during the last quarter. Barrett Asset Management LLC purchased a new position in shares of Celanese Corporation in the second quarter worth about $142,000. Fiduciary Trust Co. purchased a new position in shares of Celanese Corporation in the second quarter worth about $150,000. Toronto Dominion Bank raised its stake in shares of Celanese Corporation by 8.4% in the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after purchasing an additional 134 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Celanese Corporation by 6.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,919 shares of the basic materials company’s stock worth $182,000 after purchasing an additional 122 shares during the last quarter. 96.76% of the stock is owned by institutional investors and hedge funds.
Shares of Celanese Corporation (CE) opened at $106.72 on Friday. Celanese Corporation has a twelve month low of $75.79 and a twelve month high of $109.11. The firm has a market capitalization of $14,367.92, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.60 and a beta of 1.31. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.94.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Monday, October 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, October 27th. Celanese Corporation’s payout ratio is 32.11%.
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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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