$1.84 EPS Expected for Celanese Corporation (CE) This Quarter
Equities analysts expect Celanese Corporation (NYSE:CE) to post $1.84 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Celanese Corporation’s earnings, with the lowest EPS estimate coming in at $1.80 and the highest estimate coming in at $1.97. Celanese Corporation reported earnings per share of $1.52 during the same quarter last year, which suggests a positive year-over-year growth rate of 21.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Celanese Corporation will report full year earnings of $7.37 per share for the current year, with EPS estimates ranging from $7.33 to $7.50. For the next year, analysts anticipate that the company will post earnings of $8.23 per share, with EPS estimates ranging from $8.10 to $8.45. Zacks’ EPS calculations are an average based on a survey of research firms that cover Celanese Corporation.
Celanese Corporation (NYSE:CE) last posted its earnings results on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.01. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 earnings per share.
CE has been the topic of several research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $109.00 price objective on shares of Celanese Corporation in a report on Wednesday, September 6th. ValuEngine downgraded shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. BidaskClub downgraded shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a report on Monday, July 17th. Finally, KeyCorp reissued a “buy” rating and issued a $106.00 target price on shares of Celanese Corporation in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Celanese Corporation currently has an average rating of “Buy” and a consensus target price of $107.74.
In other news, Director John K. Wulff sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total value of $264,700.00. Following the completion of the transaction, the director now owns 30,175 shares of the company’s stock, valued at $3,194,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher W. Jensen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $104.68, for a total value of $104,680.00. Following the completion of the transaction, the chief financial officer now directly owns 60,086 shares of the company’s stock, valued at approximately $6,289,802.48. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Celanese Corporation by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,890,128 shares of the basic materials company’s stock valued at $1,128,848,000 after purchasing an additional 153,112 shares during the period. JPMorgan Chase & Co. increased its position in Celanese Corporation by 33.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock valued at $284,749,000 after purchasing an additional 752,057 shares during the period. Boston Partners increased its position in Celanese Corporation by 28.0% during the 2nd quarter. Boston Partners now owns 2,850,620 shares of the basic materials company’s stock valued at $270,637,000 after purchasing an additional 623,671 shares during the period. LSV Asset Management increased its position in Celanese Corporation by 15.0% during the 2nd quarter. LSV Asset Management now owns 2,212,008 shares of the basic materials company’s stock valued at $210,008,000 after purchasing an additional 288,356 shares during the period. Finally, Victory Capital Management Inc. increased its position in Celanese Corporation by 33.2% during the 2nd quarter. Victory Capital Management Inc. now owns 2,013,602 shares of the basic materials company’s stock valued at $191,171,000 after purchasing an additional 501,469 shares during the period. 98.52% of the stock is owned by institutional investors.
Celanese Corporation (CE) opened at $106.13 on Friday. The firm has a market capitalization of $14.48 billion, a P/E ratio of 15.15, a PEG ratio of 1.61 and a beta of 1.31. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Monday, October 30th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, October 27th. This represents a $1.84 annualized dividend and a yield of 1.73%. Celanese Corporation’s dividend payout ratio is 32.11%.
Celanese Corporation declared that its board has approved a share repurchase program on Monday, July 17th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 10.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
About Celanese Corporation
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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