Celanese Corporation (CE) to Release Earnings on Monday
Celanese Corporation (NYSE:CE) will post its quarterly earnings results after the market closes on Monday, October 16th. Analysts expect Celanese Corporation to post earnings of $1.92 per share for the quarter. Celanese Corporation has set its FY17 guidance at $7.20-7.34 EPS.
Celanese Corporation (NYSE:CE) last issued its quarterly earnings results on Monday, July 24th. The basic materials company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.03. Celanese Corporation had a return on equity of 31.23% and a net margin of 14.89%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts expect Celanese Corporation to post $7.33 EPS for the current fiscal year and $8.10 EPS for the next fiscal year.
Shares of Celanese Corporation (CE) opened at 107.92 on Monday. Celanese Corporation has a one year low of $63.02 and a one year high of $108.29. The stock has a market capitalization of $14.84 billion, a P/E ratio of 18.36 and a beta of 1.31. The stock has a 50 day moving average price of $100.69 and a 200 day moving average price of $93.90.
Celanese Corporation declared that its board has approved a share repurchase plan on Monday, July 17th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
A number of research firms recently commented on CE. UBS AG reiterated a “neutral” rating and issued a $95.00 price objective (up from $90.00) on shares of Celanese Corporation in a report on Thursday, June 22nd. Cowen and Company reiterated an “outperform” rating and issued a $115.00 price objective (up from $100.00) on shares of Celanese Corporation in a report on Wednesday, August 9th. ValuEngine cut Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday. BidaskClub cut Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and issued a $97.00 price objective (up from $90.00) on shares of Celanese Corporation in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $103.05.
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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