Celanese Corp. (NYSE:CE) released its quarterly earnings results on Monday. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.61 by $0.06. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The firm earned $1.32 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. Celanese Corp.’s revenue for the quarter was down 6.4% on a year-over-year basis. Celanese Corp. updated its FY16 guidance to $6.50-6.62 EPS.

Shares of Celanese Corp. (NYSE:CE) traded up 0.33% during midday trading on Monday, reaching $63.58. 2,115,878 shares of the company were exchanged. The firm’s 50 day moving average is $64.03 and its 200-day moving average is $67.25. Celanese Corp. has a 52-week low of $55.07 and a 52-week high of $74.55. The company has a market capitalization of $9.20 billion, a PE ratio of 27.61 and a beta of 1.61.

Earnings History for Celanese Corp. (NYSE:CE)

Several institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. increased its position in shares of Celanese Corp. by 3.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,851,619 shares of the company’s stock valued at $252,088,000 after buying an additional 138,362 shares during the period. BlackRock Fund Advisors increased its position in shares of 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. Franklin Resources Inc. increased its position in shares of Celanese Corp. by 0.4% in the second quarter. Franklin Resources Inc. now owns 1,310,264 shares of the company’s stock valued at $85,758,000 after buying an additional 5,246 shares during the period. AQR Capital Management LLC increased its position in shares of Celanese Corp. by 24.8% in the second quarter. AQR Capital Management LLC now owns 1,034,437 shares of the company’s stock valued at $67,704,000 after buying an additional 205,406 shares during the period. Finally, BlackRock Group LTD increased its position in shares of 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. 95.98% of the stock is owned by institutional investors.

CE has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Celanese Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 18th. Citigroup Inc. cut their price objective 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. Nomura restated a “hold” rating on shares of Celanese Corp. in a research report on Tuesday, July 12th. Jefferies Group restated a “buy” rating on shares of Celanese Corp. in a research report on Friday, August 12th. Finally, KeyCorp initiated coverage on shares of Celanese Corp. in a research report on Thursday, October 6th. They set an “overweight” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus 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.

5 Day Chart for NYSE:CE

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