Celanese Corp. (CE) to Release Quarterly Earnings on Monday
Celanese Corp. (NYSE:CE) is set to issue its Q316 quarterly earnings data on Monday, October 17th.
Celanese Corp. (NYSE:CE) last released its quarterly earnings results on Monday, July 25th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.56 by $0.03. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The firm earned $1.35 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. Celanese Corp.’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, analysts expect Celanese Corp. to post $6.54 EPS for the current fiscal year and $6.98 EPS for the next fiscal year.
Shares of Celanese Corp. (NYSE:CE) opened at 63.64 on Friday. The company has a 50-day moving average of $64.10 and a 200 day moving average of $67.26. Celanese Corp. has a 52-week low of $55.07 and a 52-week high of $74.55. The stock has a market cap of $9.21 billion, a P/E ratio of 27.63 and a beta of 1.61.
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Several institutional investors have recently made changes to their positions in CE. Banced Corp purchased a new position in shares of Celanese Corp. during the second quarter valued at about $216,000. BlackRock Investment Management LLC increased its position in shares of Celanese Corp. by 3.1% in the second quarter. BlackRock Investment Management LLC now owns 96,377 shares of the company’s stock valued at $6,308,000 after buying an additional 2,874 shares during the period. BlackRock Inc. increased its position in shares of Celanese Corp. by 62.0% in the second quarter. BlackRock Inc. now owns 133,130 shares of the company’s stock valued at $8,714,000 after buying an additional 50,973 shares during the period. BlackRock Fund Advisors increased its position in shares of Celanese Corp. by 3.9% in the second quarter. BlackRock Fund Advisors now owns 1,551,201 shares of the company’s stock valued at $101,526,000 after buying an additional 58,071 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Celanese Corp. by 7.4% in the second quarter. BlackRock Group LTD now owns 956,584 shares of the company’s stock valued at $62,610,000 after buying an additional 65,817 shares during the period. 95.96% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on CE. Citigroup Inc. lowered shares of Celanese Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $71.00 in a research note on Wednesday, September 7th. Zacks Investment Research lowered shares of Celanese Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 19th. Barclays PLC dropped their price objective on shares of Celanese Corp. from $82.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating on shares of Celanese Corp. in a research note on Tuesday, August 23rd. Finally, KeyCorp began coverage on shares of Celanese Corp. in a research note on Thursday, October 6th. They set an “overweight” rating and a $80.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $74.19.
About Celanese Corp.
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.
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