Celanese Corp. (NYSE:CE) – Stock analysts at Jefferies Group decreased their FY2017 earnings per share (EPS) estimates for shares of Celanese Corp. in a note issued to investors on Tuesday. Jefferies Group analyst L. Alexander now anticipates that the firm will post earnings per share of $7.00 for the year, down from their prior estimate of $7.10. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Celanese Corp.’s FY2019 earnings at $8.25 EPS and FY2020 earnings at $8.85 EPS.
Several other analysts also recently commented on the company. Zacks Investment Research downgraded Celanese Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Citigroup Inc. downgraded Celanese Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the company from $77.00 to $71.00 in a research note on Wednesday, September 7th. RBC Capital Markets restated a “sector perform” rating and issued a $72.00 target price (down from $76.00) on shares of Celanese Corp. in a research note on Thursday, July 28th. Royal Bank Of Canada reduced their target price on Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating for the company in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. reduced their target price on Celanese Corp. from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.83.
Shares of Celanese Corp. (NYSE:CE) traded up 0.7879% during mid-day trading on Wednesday, hitting $63.2545. The company’s stock had a trading volume of 57,245 shares. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 27.4661 and a beta of 1.85. The company has a 50-day moving average of $64.36 and a 200 day moving average of $67.26. Celanese Corp. has a 1-year low of $55.07 and a 1-year high of $74.55.
Celanese Corp. (NYSE:CE) last announced its quarterly earnings data on Monday, July 25th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.03. Celanese Corp. had a return on equity of 30.07% and a net margin of 6.20%. The company earned $1.35 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $1.58 EPS. The company’s quarterly revenue was down 8.5% on a year-over-year basis.
Several large investors have recently bought and sold shares of CE. Investec Asset Management LTD acquired a new position in Celanese Corp. during the first quarter worth $105,163,000. Norges Bank acquired a new position in Celanese Corp. during the fourth quarter worth $78,245,000. Wellington Management Group LLP raised its position in Celanese Corp. by 7.4% in the first quarter. Wellington Management Group LLP now owns 7,599,679 shares of the company’s stock worth $497,779,000 after buying an additional 520,647 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Celanese Corp. during the first quarter worth $28,316,000. Finally, Vanguard Group Inc. raised its position in Celanese Corp. by 3.5% in the second quarter. Vanguard Group Inc. now owns 11,043,208 shares of the company’s stock worth $722,778,000 after buying an additional 378,344 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.
About Celanese Corp.
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.
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