Celanese Co. (NYSE:CE) Expected to Announce Quarterly Sales of $2.45 Billion

Analysts expect Celanese Co. (NYSE:CEGet Rating) to announce $2.45 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Celanese’s earnings, with estimates ranging from $2.21 billion to $2.69 billion. Celanese reported sales of $2.20 billion during the same quarter last year, which indicates a positive year over year growth rate of 11.4%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Celanese will report full-year sales of $9.41 billion for the current financial year, with estimates ranging from $8.84 billion to $10.04 billion. For the next fiscal year, analysts forecast that the business will report sales of $11.12 billion, with estimates ranging from $8.86 billion to $13.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Celanese.

Celanese (NYSE:CEGet Rating) last released its earnings results on Thursday, April 28th. The basic materials company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $1.05. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.26 billion. Celanese had a return on equity of 50.03% and a net margin of 22.31%. Celanese’s revenue was up 41.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.46 earnings per share.

CE has been the topic of several research reports. Wells Fargo & Company decreased their target price on Celanese from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 1st. Piper Sandler upped their target price on Celanese from $140.00 to $145.00 and gave the company an “underweight” rating in a research report on Wednesday, May 18th. Royal Bank of Canada boosted their price target on Celanese from $198.00 to $206.00 and gave the company an “outperform” rating in a research note on Tuesday, February 1st. Bank of America boosted their price target on Celanese from $165.00 to $174.00 and gave the company a “neutral” rating in a research note on Monday, April 18th. Finally, StockNews.com upgraded Celanese from a “hold” rating to a “buy” rating in a research note on Thursday, March 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $187.81.

Several hedge funds have recently modified their holdings of CE. Morgan Stanley increased its stake in shares of Celanese by 24.0% during the 2nd quarter. Morgan Stanley now owns 399,574 shares of the basic materials company’s stock worth $60,574,000 after purchasing an additional 77,342 shares during the last quarter. Creative Planning increased its stake in shares of Celanese by 9.3% during the 3rd quarter. Creative Planning now owns 2,901 shares of the basic materials company’s stock worth $437,000 after purchasing an additional 248 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Celanese by 28.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 52,514 shares of the basic materials company’s stock worth $7,910,000 after purchasing an additional 11,687 shares during the last quarter. US Bancorp DE increased its stake in shares of Celanese by 0.9% during the 3rd quarter. US Bancorp DE now owns 20,658 shares of the basic materials company’s stock worth $3,113,000 after purchasing an additional 179 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Celanese by 3.1% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,237 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 93.81% of the company’s stock.

Shares of Celanese stock traded up $3.46 on Monday, hitting $159.21. The stock had a trading volume of 608,313 shares, compared to its average volume of 967,258. Celanese has a twelve month low of $132.26 and a twelve month high of $176.50. The business’s 50 day moving average is $145.96 and its two-hundred day moving average is $153.45. The company has a quick ratio of 1.04, a current ratio of 1.64 and a debt-to-equity ratio of 0.63. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of 8.50 and a beta of 1.18.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Thursday, April 28th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Wednesday, April 27th. This represents a $2.72 annualized dividend and a dividend yield of 1.71%. Celanese’s dividend payout ratio is currently 14.52%.

About Celanese (Get Rating)

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 three segments: Engineered Materials, Acetate Tow, and Acetyl Chain. 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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