$1.52 Billion in Sales Expected for Celanese Co. (CE) This Quarter
Brokerages expect Celanese Co. (NYSE:CE) to announce sales of $1.52 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Celanese’s earnings, with the highest sales estimate coming in at $1.56 billion and the lowest estimate coming in at $1.48 billion. Celanese posted sales of $1.31 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The company is scheduled to report its next earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Celanese will report full year sales of $1.52 billion for the current fiscal year, with estimates ranging from $6.01 billion to $6.10 billion. For the next financial year, analysts forecast that the business will post sales of $6.47 billion per share, with estimates ranging from $6.17 billion to $6.70 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Celanese.
Celanese (NYSE:CE) last announced its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.01. Celanese had a return on equity of 31.98% and a net margin of 13.66%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company earned $1.67 EPS. The company’s quarterly revenue was up 18.4% on a year-over-year basis.
In other Celanese news, Director John K. Wulff sold 2,500 shares of the business’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 transaction of $264,700.00. Following the transaction, the director now owns 30,175 shares of the company’s stock, valued at $3,194,929. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Christopher W. Jensen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $104.68, for a total value of $104,680.00. Following the transaction, the chief financial officer now directly owns 60,086 shares in the company, 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 insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Celanese by 13.4% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,150,894 shares of the basic materials company’s stock worth $224,274,000 after acquiring an additional 253,809 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Celanese by 6.4% during the third quarter. GSA Capital Partners LLP now owns 8,449 shares of the basic materials company’s stock worth $881,000 after acquiring an additional 505 shares during the period. Cetera Investment Advisers bought a new stake in shares of Celanese during the third quarter worth approximately $499,000. IFM Investors Pty Ltd bought a new stake in shares of Celanese during the third quarter worth approximately $469,000. Finally, Green Square Capital LLC boosted its holdings in shares of Celanese by 54.0% during the third quarter. Green Square Capital LLC now owns 5,930 shares of the basic materials company’s stock worth $618,000 after acquiring an additional 2,080 shares during the period. 96.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Celanese (NYSE:CE) opened at $106.97 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.69 and a debt-to-equity ratio of 0.94. Celanese has a 52-week low of $78.38 and a 52-week high of $109.11. The company has a market capitalization of $14,331.30, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/13/1-52-billion-in-sales-expected-for-celanese-co-ce-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.