Wall Street brokerages predict that Celanese Corporation (NYSE:CE) will report $1.84 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Celanese Corporation’s earnings, with the lowest EPS estimate coming in at $1.80 and the highest estimate coming in at $1.97. Celanese Corporation reported earnings per share of $1.52 in the same quarter last year, which would suggest a positive year over year growth rate of 21.1%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 7th.
On average, analysts expect that Celanese Corporation will report full year earnings of $7.37 per share for the current year, with EPS estimates ranging from $7.33 to $7.50. For the next year, analysts forecast that the firm will post earnings of $8.23 per share, with EPS estimates ranging from $8.10 to $8.45. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Celanese Corporation.
Celanese Corporation (NYSE:CE) last announced its earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.01. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the business posted $1.67 earnings per share. Celanese Corporation’s revenue for the quarter was up 18.4% on a year-over-year basis.
Several equities research analysts have issued reports on CE shares. Royal Bank Of Canada lifted their price target on shares of Celanese Corporation from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. BidaskClub downgraded shares of Celanese Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $122.00 price target on shares of Celanese Corporation in a research note on Thursday, October 19th. KeyCorp reissued a “buy” rating and set a $106.00 price target on shares of Celanese Corporation in a research note on Thursday, August 24th. Finally, UBS Group AG lifted their price target on shares of Celanese Corporation from $100.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $107.74.
In related news, CFO Christopher W. Jensen sold 1,000 shares of Celanese Corporation stock in a transaction on Monday, October 30th. The shares were sold at an average price of $104.68, for a total value of $104,680.00. Following the transaction, the chief financial officer now directly owns 60,086 shares of the company’s stock, valued at $6,289,802.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John K. Wulff sold 2,500 shares of Celanese Corporation stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total transaction of $264,700.00. Following the completion of the transaction, the director now directly owns 30,175 shares in the company, valued at $3,194,929. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Honkamp Krueger Financial Services Inc. increased its stake in shares of Celanese Corporation by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,670 shares of the basic materials company’s stock worth $253,000 after buying an additional 10 shares during the period. Alps Advisors Inc. increased its stake in shares of Celanese Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,276 shares of the basic materials company’s stock worth $501,000 after buying an additional 14 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Celanese Corporation by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,732 shares of the basic materials company’s stock worth $1,494,000 after buying an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. increased 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 buying an additional 122 shares during the period. Finally, Toronto Dominion Bank increased 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 buying an additional 134 shares during the period. 96.76% of the stock is currently owned by institutional investors.
Shares of Celanese Corporation (CE) traded down $1.15 during trading on Thursday, reaching $105.93. 363,000 shares of the company’s stock traded hands, compared to its average volume of 881,956. Celanese Corporation has a twelve month low of $75.79 and a twelve month high of $109.11. The company has a market capitalization of $14,370.00, a price-to-earnings ratio of 15.19, a PEG ratio of 1.62 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 firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 30th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, October 27th. Celanese Corporation’s dividend payout ratio (DPR) is presently 31.62%.
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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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