Celanese Corp. (NYSE:CE) – Equities researchers at KeyCorp issued their Q3 2016 EPS estimates for Celanese Corp. in a research report issued on Thursday. KeyCorp analyst M. Sison forecasts that the firm will earn $1.70 per share for the quarter. KeyCorp has a “Overweight” rating and a $80.00 price target on the stock. KeyCorp also issued estimates for Celanese Corp.’s Q4 2016 earnings at $1.37 EPS, FY2016 earnings at $6.50 EPS and FY2017 earnings at $6.95 EPS.
Celanese Corp. (NYSE:CE) last issued its quarterly earnings results on Monday, July 25th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. The business earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Celanese Corp. had a return on equity of 30.07% and a net margin of 6.20%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 earnings per share.
Other research analysts also recently issued reports about the company. Jefferies Group reiterated a “buy” rating on shares of Celanese Corp. in a report on Thursday, August 4th. Citigroup Inc. lowered their price objective on Celanese Corp. from $81.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Nomura reissued a “hold” rating on shares of Celanese Corp. in a research report on Tuesday, July 12th. Morgan Stanley reissued a “hold” rating and issued a $65.00 price objective on shares of Celanese Corp. in a research report on Thursday, June 16th. Finally, Zacks Investment Research cut Celanese Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.19.
Shares of Celanese Corp. (NYSE:CE) opened at 65.49 on Monday. The stock has a market cap of $9.48 billion, a PE ratio of 28.44 and a beta of 1.61. Celanese Corp. has a 12 month low of $55.07 and a 12 month high of $74.55. The firm has a 50-day moving average price of $64.21 and a 200-day moving average price of $67.31.
Several institutional investors have recently made changes to their positions in CE. Societe Generale acquired a new position in shares of Celanese Corp. during the second quarter valued at $111,000. Bessemer Group Inc. raised its position in shares of Celanese Corp. by 22.5% in the first quarter. Bessemer Group Inc. now owns 1,964 shares of the company’s stock valued at $129,000 after buying an additional 361 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Celanese Corp. during the second quarter valued at $133,000. Advisor Group Inc. acquired a new position in shares of Celanese Corp. during the second quarter valued at $152,000. Finally, Mizuho Asset Management Co. Ltd. raised its position in shares of Celanese Corp. by 123.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,339 shares of the company’s stock valued at $153,000 after buying an additional 1,290 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.
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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