Celanese Corp. (CE) to Release Quarterly Earnings on Monday
Celanese Corp. (NYSE:CE) is set to announce its Q316 earnings results on Monday, October 17th.
Celanese Corp. (NYSE:CE) last released its quarterly earnings data on Monday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm earned $1.58 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts expect Celanese Corp. to post $6.54 EPS for the current fiscal year and $6.98 EPS for the next fiscal year.
Shares of Celanese Corp. (NYSE:CE) opened at 63.64 on Friday. Celanese Corp. has a 52-week low of $55.07 and a 52-week high of $74.55. The company’s 50-day moving average is $64.10 and its 200-day moving average is $67.26. The stock has a market cap of $9.21 billion, a PE ratio of 27.63 and a beta of 1.61.
Several hedge funds and other institutional investors have recently modified their holdings of CE. Banced Corp bought a new position in shares of Celanese Corp. during the second quarter valued at about $216,000. BlackRock Investment Management LLC increased its stake in Celanese Corp. by 3.1% in the second quarter. BlackRock Investment Management LLC now owns 96,377 shares of the company’s stock valued at $6,308,000 after buying an additional 2,874 shares during the period. BlackRock Inc. increased its stake in Celanese Corp. by 62.0% in the second quarter. BlackRock Inc. now owns 133,130 shares of the company’s stock valued at $8,714,000 after buying an additional 50,973 shares during the period. BlackRock Fund Advisors increased its stake in Celanese Corp. by 3.9% in the second quarter. BlackRock Fund Advisors now owns 1,551,201 shares of the company’s stock valued at $101,526,000 after buying an additional 58,071 shares during the period. Finally, BlackRock Group LTD increased its stake in Celanese Corp. by 7.4% in the second quarter. BlackRock Group LTD now owns 956,584 shares of the company’s stock valued at $62,610,000 after buying an additional 65,817 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.
A number of equities research analysts have recently issued reports on CE shares. Morgan Stanley reissued a “hold” rating and issued a $65.00 price target on shares of Celanese Corp. in a research note on Thursday, June 16th. Susquehanna started coverage on shares of Celanese Corp. in a research note on Friday, July 1st. They issued a “positive” rating and a $80.00 price target on the stock. Zacks Investment Research downgraded shares of Celanese Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Nomura reissued a “hold” rating on shares of Celanese Corp. in a research note on Tuesday, July 12th. Finally, Citigroup Inc. reduced their price target on shares of Celanese Corp. from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $74.19.
About Celanese Corp.
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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