$1.74 Billion in Sales Expected for Celanese Co. (CE) This Quarter

Wall Street analysts expect Celanese Co. (NYSE:CE) to report $1.74 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Celanese’s earnings. The lowest sales estimate is $1.71 billion and the highest is $1.76 billion. Celanese reported sales of $1.59 billion during the same quarter last year, which indicates a positive year over year growth rate of 9.4%. The company is expected to issue its next earnings report on Thursday, January 24th.

On average, analysts expect that Celanese will report full-year sales of $7.20 billion for the current year, with estimates ranging from $7.12 billion to $7.29 billion. For the next fiscal year, analysts expect that the business will post sales of $7.53 billion, with estimates ranging from $7.26 billion to $8.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Celanese.

Celanese (NYSE:CE) last issued its earnings results on Thursday, October 18th. The basic materials company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.22. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. Celanese had a return on equity of 39.39% and a net margin of 18.57%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $1.93 EPS.

Several research analysts have commented on CE shares. Zacks Investment Research lowered Celanese from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 24th. Nomura cut their price target on Celanese from $120.00 to $108.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Vertical Research raised Celanese from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday, October 17th. Cowen lifted their price target on Celanese from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Finally, Citigroup cut their price target on Celanese from $134.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, October 11th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $121.67.

CE traded down $3.40 during trading on Tuesday, hitting $91.26. 1,330,225 shares of the stock were exchanged, compared to its average volume of 1,201,275. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.41. Celanese has a 1-year low of $91.20 and a 1-year high of $119.29. The company has a quick ratio of 1.40, a current ratio of 2.08 and a debt-to-equity ratio of 0.81.

Several large investors have recently added to or reduced their stakes in CE. Principal Financial Group Inc. increased its holdings in shares of Celanese by 22.9% in the first quarter. Principal Financial Group Inc. now owns 171,982 shares of the basic materials company’s stock valued at $17,234,000 after purchasing an additional 32,101 shares during the period. Aperio Group LLC increased its holdings in shares of Celanese by 1.7% in the second quarter. Aperio Group LLC now owns 75,702 shares of the basic materials company’s stock valued at $8,407,000 after purchasing an additional 1,257 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Celanese by 60.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,223 shares of the basic materials company’s stock valued at $1,579,000 after purchasing an additional 5,333 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Celanese by 11.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 498,850 shares of the basic materials company’s stock valued at $55,402,000 after purchasing an additional 51,253 shares during the period. Finally, Smith Asset Management Group LP increased its holdings in shares of Celanese by 6.6% in the second quarter. Smith Asset Management Group LP now owns 279,336 shares of the basic materials company’s stock valued at $30,060,000 after purchasing an additional 17,279 shares during the period. 96.46% of the stock is currently owned by institutional investors and hedge funds.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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Earnings History and Estimates for Celanese (NYSE:CE)

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