FY2016 EPS Estimates for Celanese Corp. Raised by Analyst (CE)
Celanese Corp. (NYSE:CE) – Investment analysts at Credit Agricole SA boosted their FY2016 earnings per share (EPS) estimates for shares of Celanese Corp. in a research report issued on Wednesday. Credit Agricole SA analyst N. Wallin now anticipates that the brokerage will post earnings of $6.50 per share for the year, up from their prior forecast of $6.45. Credit Agricole SA also issued estimates for Celanese Corp.’s FY2018 earnings at $7.30 EPS.
Celanese Corp. (NYSE:CE) last issued its quarterly earnings results on Monday, July 25th. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The firm earned $1.35 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $1.58 EPS. The business’s revenue was down 8.5% on a year-over-year basis.
A number of other research firms have also recently issued reports on CE. Royal Bank Of Canada cut their price target on Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating on the stock in a report on Thursday, July 28th. Zacks Investment Research upgraded Celanese Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Citigroup Inc. cut Celanese Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $77.00 to $71.00 in a report on Wednesday, September 7th. Morgan Stanley restated a “hold” rating and set a $65.00 price target on shares of Celanese Corp. in a report on Thursday, June 16th. Finally, Susquehanna started coverage on Celanese Corp. in a report on Friday, July 1st. They set a “positive” rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $73.83.
Shares of Celanese Corp. (NYSE:CE) opened at 66.56 on Friday. The firm has a 50-day moving average of $64.25 and a 200-day moving average of $67.29. Celanese Corp. has a one year low of $55.07 and a one year high of $74.55. The company has a market capitalization of $9.63 billion, a P/E ratio of 28.90 and a beta of 1.85.
Institutional investors have recently modified their holdings of the stock. Aperio Group LLC boosted its position in shares of Celanese Corp. by 14.5% in the first quarter. Aperio Group LLC now owns 38,173 shares of the company’s stock valued at $2,500,000 after buying an additional 4,833 shares during the period. Virginia Retirement System acquired a new stake in shares of Celanese Corp. during the first quarter valued at about $1,145,000. TIAA CREF Investment Management LLC raised its stake in shares of Celanese Corp. by 4.0% in the first quarter. TIAA CREF Investment Management LLC now owns 413,155 shares of the company’s stock valued at $27,062,000 after buying an additional 15,906 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Celanese Corp. by 5.3% in the first quarter. Teachers Advisors Inc. now owns 225,240 shares of the company’s stock valued at $14,753,000 after buying an additional 11,394 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Celanese Corp. by 5.0% in the first quarter. Franklin Resources Inc. now owns 1,305,018 shares of the company’s stock valued at $85,479,000 after buying an additional 62,446 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.
Celanese Corp. Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.
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