Celanese Co. (CE) Expected to Post Earnings of $2.37 Per Share

Wall Street analysts forecast that Celanese Co. (NYSE:CE) will post earnings per share of $2.37 for the current quarter, Zacks reports. Five analysts have made estimates for Celanese’s earnings, with the highest EPS estimate coming in at $2.52 and the lowest estimate coming in at $2.26. Celanese posted earnings of $1.79 per share during the same quarter last year, which suggests a positive year over year growth rate of 32.4%. The firm is scheduled to report its next earnings report after the market closes on Thursday, July 19th.

According to Zacks, analysts expect that Celanese will report full year earnings of $9.51 per share for the current year, with EPS estimates ranging from $9.25 to $10.40. For the next fiscal year, analysts forecast that the firm will post earnings of $9.98 per share, with EPS estimates ranging from $9.35 to $10.65. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Celanese.

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Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, April 16th. The basic materials company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.46. Celanese had a return on equity of 35.22% and a net margin of 15.69%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $1.81 earnings per share. Celanese’s quarterly revenue was up 25.8% on a year-over-year basis.

A number of equities analysts recently commented on the company. ValuEngine cut Celanese from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Citigroup lifted their price target on Celanese from $130.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group lifted their price target on Celanese to $138.00 and gave the stock a “buy” rating in a report on Monday, June 18th. Nomura lifted their price target on Celanese from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Cowen reiterated an “outperform” rating and set a $125.00 price target (up previously from $120.00) on shares of Celanese in a report on Friday, May 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Celanese has a consensus rating of “Buy” and a consensus target price of $119.57.

Celanese stock traded down $1.75 during midday trading on Wednesday, reaching $112.35. 675,800 shares of the company’s stock were exchanged, compared to its average volume of 830,208. Celanese has a 52 week low of $91.15 and a 52 week high of $118.40. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.28 and a current ratio of 1.88. The stock has a market capitalization of $15.45 billion, a P/E ratio of 14.92, a PEG ratio of 1.34 and a beta of 1.28.

In other news, EVP Peter G. Edwards sold 3,674 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $115.44, for a total transaction of $424,126.56. Following the completion of the sale, the executive vice president now owns 12,160 shares in the company, valued at $1,403,750.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA bought a new stake in shares of Celanese in the fourth quarter valued at approximately $160,000. Lido Advisors LLC bought a new stake in shares of Celanese in the fourth quarter valued at approximately $200,000. TLP Group LLC bought a new stake in shares of Celanese in the first quarter valued at approximately $229,000. Parametrica Management Ltd bought a new stake in shares of Celanese in the first quarter valued at approximately $230,000. Finally, Jump Trading LLC bought a new stake in shares of Celanese in the first quarter valued at approximately $258,000. Institutional investors and hedge funds own 94.14% of the company’s stock.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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