Brokerages expect Celanese Corporation (NYSE:CE) to announce sales of $1.45 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Celanese Corporation’s earnings, with the highest sales estimate coming in at $1.49 billion and the lowest estimate coming in at $1.42 billion. Celanese Corporation reported sales of $1.35 billion in the same quarter last year, which indicates a positive year over year growth rate of 7.4%. The firm is expected to report its next earnings report on Monday, July 24th.
On average, analysts expect that Celanese Corporation will report full-year sales of $1.45 billion for the current financial year, with estimates ranging from $5.70 billion to $5.99 billion. For the next financial year, analysts forecast that the firm will post sales of $6.22 billion per share, with estimates ranging from $5.99 billion to $6.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for 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 Zacks’ consensus estimate of $1.72 by $0.09. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. Celanese Corporation had a return on equity of 30.92% and a net margin of 15.14%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 earnings per share.
Several research firms recently weighed in on CE. Nomura reaffirmed a “hold” rating and issued a $88.00 price objective on shares of Celanese Corporation in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) raised their price objective on Celanese Corporation from $103.00 to $110.00 and gave the company a “conviction-buy” rating in a research note on Tuesday, April 4th. Jefferies Group LLC set a $104.00 price objective on Celanese Corporation and gave the company a “buy” rating in a research note on Saturday, May 27th. Vetr raised Celanese Corporation from a “buy” rating to a “strong-buy” rating and set a $103.79 price objective for the company in a research note on Thursday, April 6th. Finally, Zacks Investment Research downgraded Celanese Corporation from a “buy” rating to a “hold” rating in a research note on Friday, March 17th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Celanese Corporation presently has a consensus rating of “Buy” and an average price target of $95.59.
Shares of Celanese Corporation (CE) traded down 1.35% during mid-day trading on Friday, hitting $94.34. The stock had a trading volume of 1,122,389 shares. The stock has a 50 day moving average price of $87.44 and a 200-day moving average price of $86.82. The company has a market cap of $13.16 billion, a PE ratio of 16.44 and a beta of 1.17. Celanese Corporation has a 52-week low of $60.59 and a 52-week high of $96.97.
Several large investors have recently bought and sold shares of CE. Tyers Asset Management LLC acquired a new stake in Celanese Corporation during the fourth quarter valued at about $105,000. Capstone Investment Advisors LLC acquired a new stake in Celanese Corporation during the fourth quarter valued at about $2,267,000. Renaissance Technologies LLC boosted its stake in Celanese Corporation by 46.1% in the fourth quarter. Renaissance Technologies LLC now owns 608,700 shares of the basic materials company’s stock valued at $47,929,000 after buying an additional 192,200 shares during the period. Pacad Investment Ltd. acquired a new stake in Celanese Corporation during the fourth quarter valued at about $921,000. Finally, Aviva PLC boosted its stake in Celanese Corporation by 5.4% in the fourth quarter. Aviva PLC now owns 96,316 shares of the basic materials company’s stock valued at $7,583,000 after buying an additional 4,958 shares during the period. Institutional investors and hedge funds own 98.42% of the company’s stock.
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Celanese Corporation Company Profile
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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