Celanese Co. (CE) Expected to Announce Quarterly Sales of $1.71 Billion

Brokerages forecast that Celanese Co. (NYSE:CE) will report $1.71 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Celanese’s earnings, with the highest sales estimate coming in at $1.73 billion and the lowest estimate coming in at $1.69 billion. Celanese reported sales of $1.47 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 16.3%. The firm is scheduled to issue its next quarterly earnings report on Monday, April 16th.

According to Zacks, analysts expect that Celanese will report full year sales of $1.71 billion for the current fiscal year, with estimates ranging from $6.40 billion to $6.98 billion. For the next fiscal year, analysts anticipate that the company will post sales of $7.09 billion per share, with estimates ranging from $6.73 billion to $7.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Celanese.

Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.86 by $0.12. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.49 billion. Celanese had a net margin of 13.73% and a return on equity of 33.49%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 earnings per share.

Several brokerages have recently commented on CE. UBS Group upped their price objective on shares of Celanese from $107.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. SunTrust Banks reaffirmed a “buy” rating on shares of Celanese in a research note on Wednesday, January 17th. Zacks Investment Research downgraded shares of Celanese from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Tudor Pickering began coverage on shares of Celanese in a research note on Tuesday, November 14th. They set a “buy” rating for the company. Finally, Royal Bank of Canada upped their price objective on shares of Celanese from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $113.28.

Celanese (CE) opened at $106.81 on Friday. The company has a market cap of $14,670.39 and a PE ratio of 17.51. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69. Celanese has a one year low of $83.34 and a one year high of $114.00.

In related news, CFO Christopher W. Jensen sold 3,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the chief financial officer now directly owns 52,924 shares of the company’s stock, valued at $5,821,640. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CE. Koch Industries Inc. purchased a new stake in Celanese in the second quarter worth about $289,000. Janus Henderson Group PLC grew its holdings in Celanese by 134.3% in the third quarter. Janus Henderson Group PLC now owns 465,222 shares of the basic materials company’s stock worth $48,509,000 after purchasing an additional 266,698 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Celanese by 13.4% in 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 purchasing an additional 253,809 shares during the period. Victory Capital Management Inc. grew its holdings in Celanese by 10.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock worth $238,797,000 after purchasing an additional 212,134 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in Celanese by 15.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,048,124 shares of the basic materials company’s stock worth $109,288,000 after purchasing an additional 140,148 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

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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.

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Earnings History and Estimates for Celanese (NYSE:CE)

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