Celanese Co. (NYSE:CE) – Research analysts at KeyCorp lifted their FY2019 EPS estimates for shares of Celanese in a report released on Wednesday, July 24th. KeyCorp analyst M. Sison now expects that the basic materials company will post earnings of $10.40 per share for the year, up from their prior forecast of $10.20. KeyCorp has a “Overweight” rating and a $124.00 price objective on the stock.
Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.02. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. Celanese had a net margin of 15.52% and a return on equity of 38.56%. The firm’s revenue for the quarter was down 13.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.90 earnings per share.
CE opened at $112.52 on Monday. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 1.08 and a beta of 1.42. The firm’s 50-day moving average is $106.78. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.32 and a current ratio of 2.04. Celanese has a fifty-two week low of $82.91 and a fifty-two week high of $119.29.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. lifted its holdings in Celanese by 0.4% during the fourth quarter. Macquarie Group Ltd. now owns 155,877 shares of the basic materials company’s stock valued at $14,025,000 after purchasing an additional 610 shares during the last quarter. Northern Trust Corp lifted its holdings in Celanese by 1.2% during the first quarter. Northern Trust Corp now owns 1,353,590 shares of the basic materials company’s stock valued at $133,477,000 after purchasing an additional 16,072 shares during the last quarter. Hancock Whitney Corp lifted its holdings in shares of Celanese by 37.9% in the first quarter. Hancock Whitney Corp now owns 42,424 shares of the basic materials company’s stock worth $4,184,000 after buying an additional 11,656 shares in the last quarter. Stanley Laman Group Ltd. lifted its holdings in shares of Celanese by 6.3% in the first quarter. Stanley Laman Group Ltd. now owns 9,091 shares of the basic materials company’s stock worth $897,000 after buying an additional 537 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Celanese by 20.6% in the first quarter. JPMorgan Chase & Co. now owns 1,892,634 shares of the basic materials company’s stock worth $186,634,000 after buying an additional 323,714 shares in the last quarter. 97.59% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 26th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, July 25th. Celanese’s dividend payout ratio (DPR) is presently 22.55%.
Celanese Company Profile
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.
Further Reading: What does relative strength index mean?
Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.