Zacks: Brokerages Anticipate Celanese Co. (NYSE:CE) to Post $2.58 EPS

Brokerages expect that Celanese Co. (NYSE:CE) will announce earnings of $2.58 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Celanese’s earnings. The highest EPS estimate is $2.74 and the lowest is $2.32. Celanese reported earnings per share of $2.38 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.4%. The firm is expected to announce its next quarterly earnings results on Monday, January 27th.

According to Zacks, analysts expect that Celanese will report full-year earnings of $10.01 per share for the current year, with EPS estimates ranging from $9.65 to $10.19. For the next year, analysts anticipate that the firm will report earnings of $11.25 per share, with EPS estimates ranging from $10.68 to $12.20. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Celanese.

Celanese (NYSE:CE) last released its earnings results on Monday, October 21st. The basic materials company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.03. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.64 billion. Celanese had a return on equity of 37.59% and a net margin of 13.85%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the company earned $2.96 earnings per share.

Several equities analysts have recently commented on the company. Nomura cut their price target on Celanese from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley raised their price target on Celanese from $102.00 to $124.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. ValuEngine lowered Celanese from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised their price target on Celanese from $120.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays raised their price target on Celanese from $126.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $120.89.

Institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. acquired a new stake in shares of Celanese during the second quarter worth about $506,000. Wealthsource Partners LLC lifted its holdings in shares of Celanese by 69.2% during the second quarter. Wealthsource Partners LLC now owns 3,604 shares of the basic materials company’s stock worth $389,000 after purchasing an additional 1,474 shares during the period. AustralianSuper Pty Ltd acquired a new position in Celanese in the second quarter valued at approximately $3,954,000. Grove Bank & Trust lifted its holdings in Celanese by 2.4% in the second quarter. Grove Bank & Trust now owns 6,865 shares of the basic materials company’s stock valued at $740,000 after acquiring an additional 164 shares during the period. Finally, Stone Ridge Asset Management LLC lifted its holdings in Celanese by 13.5% in the second quarter. Stone Ridge Asset Management LLC now owns 2,526 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 300 shares during the period. 98.19% of the stock is owned by hedge funds and other institutional investors.

Shares of Celanese stock traded up $2.65 during trading on Friday, hitting $121.95. 54,919 shares of the stock traded hands, compared to its average volume of 791,359. The firm has a market cap of $15.01 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.36. The company has a current ratio of 2.04, a quick ratio of 1.32 and a debt-to-equity ratio of 1.12. Celanese has a 52-week low of $82.91 and a 52-week high of $127.15. The stock’s fifty day simple moving average is $120.91 and its 200 day simple moving average is $109.54.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.03%. Celanese’s payout ratio is 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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