Celanese Corp. (NYSE:CE) issued an update on its FY16 earnings guidance on Monday morning. The company provided EPS guidance of $6.50-6.62 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.54.
Shares of Celanese Corp. (NYSE:CE) opened at 63.58 on Tuesday. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 27.61 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’s 50-day moving average price is $63.98 and its 200-day moving average price is $67.26.
Celanese Corp. (NYSE:CE) last posted its quarterly earnings data on Monday, October 17th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.06. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.63 billion. Celanese Corp. had a return on equity of 30.07% and a net margin of 6.20%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 earnings per share. On average, equities analysts anticipate that Celanese Corp. will post $6.54 earnings per share for the current year.
CE has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Celanese Corp. from a hold rating to a sell rating in a research note on Wednesday, September 14th. Jefferies Group restated a buy rating on shares of Celanese Corp. in a research report on Tuesday, August 23rd. Nomura restated a hold rating on shares of Celanese Corp. in a research report on Tuesday, July 12th. Royal Bank Of Canada dropped their target price on Celanese Corp. from $76.00 to $72.00 and set a sector perform rating for the company in a research report on Thursday, July 28th. Finally, Barclays PLC dropped their target price on Celanese Corp. from $82.00 to $76.00 and set an overweight rating for the company in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Celanese Corp. has a consensus rating of Buy and an average price target of $74.19.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its position in Celanese Corp. by 3.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,851,619 shares of the company’s stock valued at $252,088,000 after buying an additional 138,362 shares in the last quarter. BlackRock Fund Advisors boosted its position in Celanese Corp. by 3.9% in the second quarter. BlackRock Fund Advisors now owns 1,551,201 shares of the company’s stock valued at $101,526,000 after buying an additional 58,071 shares in the last quarter. Franklin Resources Inc. boosted its position in Celanese Corp. by 0.4% in the second quarter. Franklin Resources Inc. now owns 1,310,264 shares of the company’s stock valued at $85,758,000 after buying an additional 5,246 shares in the last quarter. AQR Capital Management LLC boosted its position in Celanese Corp. by 24.8% in the second quarter. AQR Capital Management LLC now owns 1,034,437 shares of the company’s stock valued at $67,704,000 after buying an additional 205,406 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in Celanese Corp. by 7.4% in the second quarter. BlackRock Group LTD now owns 956,584 shares of the company’s stock valued at $62,610,000 after buying an additional 65,817 shares in the last quarter. 95.98% of the stock is 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.
Receive News & Ratings for Celanese Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese Corp. and related companies with MarketBeat.com's FREE daily email newsletter.