Celanese Co. (NYSE:CE) – Stock analysts at SunTrust Banks raised their FY2017 earnings per share (EPS) estimates for Celanese in a research note issued on Tuesday. SunTrust Banks analyst J. Sheehan now anticipates that the basic materials company will earn $7.45 per share for the year, up from their previous forecast of $7.35. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Celanese’s FY2018 earnings at $8.28 EPS.

Celanese (NYSE:CE) last posted its earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 had a net margin of 13.66% and a return on equity of 31.98%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada boosted their price objective on shares of Celanese from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Jefferies Group restated a “buy” rating and issued a $122.00 price objective on shares of Celanese in a research note on Thursday, October 19th. Citigroup reduced their price objective on shares of Celanese from $122.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Nomura boosted their price objective on shares of Celanese from $97.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 10th. Finally, UBS Group boosted their price objective on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $108.17.

Shares of Celanese (CE) opened at $109.67 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.69 and a quick ratio of 1.16. Celanese has a one year low of $81.01 and a one year high of $112.43. The stock has a market cap of $15,101.71, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.50 and a beta of 1.32.

In related news, CFO Christopher W. Jensen sold 3,000 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the chief financial officer now directly owns 52,924 shares in the company, valued at approximately $5,821,640. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher W. Jensen sold 1,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the transaction, the chief financial officer now owns 60,086 shares of the company’s stock, valued at $6,289,802.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,500 shares of company stock valued at $699,380. Corporate insiders own 0.42% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Celanese by 1.3% in 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 buying an additional 153,112 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Celanese by 13.4% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,150,894 shares of the basic materials company’s stock valued at $224,274,000 after buying an additional 253,809 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Celanese by 5.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,683,032 shares of the basic materials company’s stock valued at $175,490,000 after buying an additional 88,311 shares during the period. Westfield Capital Management Co. LP increased its holdings in Celanese by 15.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,048,124 shares of the basic materials company’s stock valued at $109,288,000 after buying an additional 140,148 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in Celanese by 0.3% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 812,483 shares of the basic materials company’s stock valued at $84,718,000 after buying an additional 2,188 shares during the period. Hedge funds and other institutional investors own 96.06% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Celanese Co. to Post FY2017 Earnings of $7.45 Per Share, SunTrust Banks Forecasts (CE)” was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/01/17/celanese-co-to-post-fy2017-earnings-of-7-45-per-share-suntrust-banks-forecasts-ce.html.

About Celanese

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.

Earnings History and Estimates for Celanese (NYSE:CE)

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.