Celanese Corp. (NYSE:CE) announced its earnings results on Monday. The company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.06. The business earned $1.32 billion during 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%. Celanese Corp.’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.50 EPS. Celanese Corp. updated its FY16 guidance to $6.50-6.62 EPS.
Celanese Corp. (NYSE:CE) opened at 69.37 on Wednesday. The company has a market cap of $10.04 billion, a PE ratio of 30.12 and a beta of 1.61. The firm’s 50 day moving average is $64.08 and its 200 day moving average is $67.28. Celanese Corp. has a 52-week low of $55.07 and a 52-week high of $74.55.
Large investors have recently bought and sold shares of the stock. Societe Generale bought a new position in shares of Celanese Corp. during the second quarter worth $111,000. Creative Planning increased its position in Celanese Corp. by 261.1% in the third quarter. Creative Planning now owns 1,755 shares of the company’s stock valued at $117,000 after buying an additional 1,269 shares during the last quarter. Bessemer Group Inc. increased its position in 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 during the last quarter. Meeder Asset Management Inc. acquired a new position in Celanese Corp. during the second quarter valued at $133,000. Finally, Mizuho Asset Management Co. Ltd. increased its position in 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 during the last quarter. Hedge funds and other institutional investors own 95.98% of the company’s stock.
Several research analysts recently issued reports on the company. RBC Capital Markets reaffirmed a “sector perform” rating and set a $72.00 target price (down from $76.00) on shares of Celanese Corp. in a research report on Thursday, July 28th. Deutsche Bank AG reiterated a “buy” rating and set a $75.00 price target (down from $78.00) on shares of Celanese Corp. in a report on Tuesday. Citigroup Inc. decreased their price target on Celanese Corp. from $81.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Jefferies Group reiterated a “buy” rating on shares of Celanese Corp. in a report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Celanese Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 18th. 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 given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $74.19.
Celanese Corp. Company Profile
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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