Celanese Co. (NYSE:CE) – Stock analysts at SunTrust Banks cut their Q2 2019 EPS estimates for Celanese in a report released on Wednesday, June 12th. SunTrust Banks analyst J. Sheehan now forecasts that the basic materials company will post earnings per share of $2.44 for the quarter, down from their previous estimate of $2.67. SunTrust Banks also issued estimates for Celanese’s Q3 2019 earnings at $2.78 EPS, Q4 2019 earnings at $2.62 EPS and FY2019 earnings at $10.46 EPS.
Celanese (NYSE:CE) last announced its quarterly earnings data on Monday, April 22nd. The basic materials company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.49 by $0.13. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business posted $2.79 EPS. The business’s quarterly revenue was down 8.9% compared to the same quarter last year.
Other equities analysts have also recently issued reports about the stock. Deutsche Bank boosted their target price on shares of Celanese from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Zacks Investment Research upgraded shares of Celanese from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. Barclays decreased their target price on shares of Celanese from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. ValuEngine upgraded shares of Celanese from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird boosted their target price on shares of Celanese from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $119.53.
Shares of NYSE CE opened at $105.26 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.85. Celanese has a 12 month low of $82.91 and a 12 month high of $119.29. The company has a market cap of $13.19 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.99 and a beta of 1.38.
Large investors have recently bought and sold shares of the business. Nuveen Asset Management LLC raised its position in Celanese by 23.1% during the fourth quarter. Nuveen Asset Management LLC now owns 273,162 shares of the basic materials company’s stock worth $24,576,000 after acquiring an additional 51,275 shares during the period. Macquarie Group Ltd. raised its position in Celanese by 0.4% during the fourth quarter. Macquarie Group Ltd. now owns 155,877 shares of the basic materials company’s stock worth $14,025,000 after acquiring an additional 610 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Celanese by 14.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 71,746 shares of the basic materials company’s stock worth $6,454,000 after buying an additional 9,143 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Celanese by 16.4% during the fourth quarter. Cetera Investment Advisers now owns 6,536 shares of the basic materials company’s stock worth $588,000 after buying an additional 920 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in shares of Celanese by 7.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 22,940 shares of the basic materials company’s stock worth $1,805,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.
In other Celanese news, Director John K. Wulff sold 9,175 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the completion of the transaction, the director now directly owns 19,872 shares in the company, valued at $2,152,535.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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