Zacks: Brokerages Anticipate Celanese Co. (NYSE:CE) to Announce $2.15 Earnings Per Share

Equities analysts expect Celanese Co. (NYSE:CE) to announce earnings of $2.15 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Celanese’s earnings. The highest EPS estimate is $2.28 and the lowest is $2.10. Celanese posted earnings per share of $2.38 during the same quarter last year, which suggests a negative year over year growth rate of 9.7%. The company is expected to issue its next quarterly earnings report on Monday, January 27th.

On average, analysts expect that Celanese will report full-year earnings of $9.69 per share for the current financial year, with EPS estimates ranging from $9.63 to $9.80. For the next year, analysts forecast that the business will report earnings of $11.05 per share, with EPS estimates ranging from $10.71 to $11.35. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Celanese.

Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $2.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.03. Celanese had a return on equity of 38.21% and a net margin of 13.85%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the business earned $2.96 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year.

A number of analysts have issued reports on the stock. Cowen boosted their price target on shares of Celanese from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. ValuEngine raised Celanese from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Deutsche Bank raised their price target on Celanese from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Bank of America assumed coverage on Celanese in a report on Thursday, September 26th. They issued an “underperform” rating and a $110.00 price objective for the company. They noted that the move was a valuation call. Finally, Goldman Sachs Group cut Celanese from a “buy” rating to a “neutral” rating and set a $129.00 price objective for the company. in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $121.42.

Celanese stock traded down $2.35 during midday trading on Tuesday, reaching $122.45. 16,243 shares of the stock traded hands, compared to its average volume of 574,530. The firm has a market cap of $14.78 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. The company has a current ratio of 1.85, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. The company has a 50-day simple moving average of $124.16 and a two-hundred day simple moving average of $113.40. Celanese has a 12-month low of $82.91 and a 12-month high of $128.88.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $2.48 annualized dividend and a yield of 2.03%. Celanese’s dividend payout ratio (DPR) is presently 22.55%.

Several hedge funds have recently bought and sold shares of CE. Holocene Advisors LP bought a new position in shares of Celanese in the second quarter valued at approximately $49,881,000. Nuveen Asset Management LLC boosted its holdings in shares of Celanese by 121.7% during the second quarter. Nuveen Asset Management LLC now owns 643,791 shares of the basic materials company’s stock worth $69,400,000 after acquiring an additional 353,468 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Celanese by 578.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 232,892 shares of the basic materials company’s stock worth $24,776,000 after acquiring an additional 198,562 shares during the period. Voya Investment Management LLC grew its position in shares of Celanese by 54.8% in the third quarter. Voya Investment Management LLC now owns 556,691 shares of the basic materials company’s stock valued at $68,077,000 after purchasing an additional 197,107 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of Celanese in the second quarter valued at approximately $21,138,000. 99.33% of the stock is currently owned by hedge funds and other institutional investors.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.

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Earnings History and Estimates for Celanese (NYSE:CE)

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