Brokerages Anticipate Celanese Co. (NYSE:CE) to Post $2.55 Earnings Per Share

Equities analysts expect that Celanese Co. (NYSE:CE) will report $2.55 earnings per share for the current quarter, according to Zacks. Five analysts have made estimates for Celanese’s earnings, with the highest EPS estimate coming in at $2.75 and the lowest estimate coming in at $2.38. Celanese posted earnings of $2.96 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 13.9%. The firm is expected to announce its next quarterly earnings report on Thursday, October 17th.

On average, analysts expect that Celanese will report full year earnings of $10.28 per share for the current year, with EPS estimates ranging from $9.89 to $11.04. For the next fiscal year, analysts expect that the business will post earnings of $11.25 per share, with EPS estimates ranging from $10.15 to $12.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Celanese.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.36 by $0.02. Celanese had a return on equity of 38.56% and a net margin of 15.52%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the firm posted $2.90 earnings per share. The business’s quarterly revenue was down 13.7% compared to the same quarter last year.

A number of research firms have recently issued reports on CE. BMO Capital Markets raised their price objective on Celanese from $115.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Zacks Investment Research cut Celanese from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Cowen reaffirmed a “market perform” rating and issued a $110.00 price objective (up from $105.00) on shares of Celanese in a research report on Monday, July 1st. Nomura cut their price objective on Celanese from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Citigroup set a $122.00 price objective on Celanese and gave the company a “buy” rating in a research report on Monday, July 15th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Celanese currently has an average rating of “Hold” and an average target price of $117.87.

A number of large investors have recently added to or reduced their stakes in CE. Advisory Alpha LLC bought a new position in Celanese during the 1st quarter worth $27,000. Patriot Financial Group Insurance Agency LLC bought a new position in Celanese during the 2nd quarter worth $28,000. Rockefeller Capital Management L.P. increased its stake in Celanese by 75.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 256 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 110 shares during the period. Investors Research Corp bought a new position in Celanese during the 1st quarter worth $41,000. Finally, Acima Private Wealth LLC increased its stake in Celanese by 28.6% during the 1st quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Shares of CE traded up $0.01 during mid-day trading on Friday, reaching $109.15. The company’s stock had a trading volume of 824,372 shares, compared to its average volume of 951,586. Celanese has a 1-year low of $82.91 and a 1-year high of $119.29. The stock has a market cap of $13.50 billion, a PE ratio of 9.92, a P/E/G ratio of 1.06 and a beta of 1.39. The business’s 50-day moving average price is $107.42. The company has a current ratio of 2.04, a quick ratio of 1.32 and a debt-to-equity ratio of 1.12.

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $2.48 annualized dividend and a yield of 2.27%. Celanese’s payout ratio is currently 22.55%.

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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