Celanese Corp. (CE) Expected to Post Q3 2016 Earnings of $1.70 Per Share
Celanese Corp. (NYSE:CE) – Research analysts at KeyCorp issued their Q3 2016 earnings per share estimates for shares of Celanese Corp. in a report issued on Thursday. KeyCorp analyst M. Sison forecasts that the firm will post earnings per share of $1.70 for the quarter. KeyCorp currently has a “Overweight” rating and a $80.00 target price on the stock. KeyCorp also issued estimates for Celanese Corp.’s Q4 2016 earnings at $1.37 EPS, FY2016 earnings at $6.50 EPS and FY2017 earnings at $6.95 EPS.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Celanese Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Jefferies Group reissued a “buy” rating on shares of Celanese Corp. in a research report on Tuesday, August 23rd. Nomura reissued a “hold” rating on shares of Celanese Corp. in a research report on Tuesday, July 12th. Citigroup Inc. dropped their target price on shares of Celanese Corp. from $82.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, July 15th. Finally, Royal Bank Of Canada dropped their target price on shares of Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating for the company in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Celanese Corp. currently has an average rating of “Buy” and a consensus price target of $74.19.
Shares of Celanese Corp. (NYSE:CE) opened at 65.49 on Monday. Celanese Corp. has a 12 month low of $55.07 and a 12 month high of $74.55. The company has a 50-day moving average of $64.21 and a 200-day moving average of $67.31. The firm has a market cap of $9.48 billion, a P/E ratio of 28.44 and a beta of 1.61.
Celanese Corp. (NYSE:CE) last announced its quarterly earnings data on Monday, July 25th. The company reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.03. The firm earned $1.35 billion during the quarter, compared to the consensus estimate of $1.42 billion. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share.
Hedge funds have recently modified their holdings of the company. Investec Asset Management LTD bought a new stake in shares of Celanese Corp. during the first quarter worth $105,163,000. M&T Bank Corp raised its stake in shares of Celanese Corp. by 45.0% in the first quarter. M&T Bank Corp now owns 14,079 shares of the company’s stock worth $922,000 after buying an additional 4,372 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Celanese Corp. by 22.5% in the first quarter. Bessemer Group Inc. now owns 1,964 shares of the company’s stock worth $129,000 after buying an additional 361 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Celanese Corp. during the first quarter worth $1,073,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Celanese Corp. by 94.2% in the first quarter. JPMorgan Chase & Co. now owns 344,613 shares of the company’s stock worth $22,571,000 after buying an additional 167,121 shares in the last quarter. 95.96% of the stock is owned by institutional investors.
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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