Zacks: Analysts Expect Celanese Co. (NYSE:CE) to Post $4.48 EPS

Brokerages expect that Celanese Co. (NYSE:CEGet Rating) will announce $4.48 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for Celanese’s earnings, with the lowest EPS estimate coming in at $4.26 and the highest estimate coming in at $4.66. Celanese posted earnings per share of $3.46 in the same quarter last year, which indicates a positive year over year growth rate of 29.5%. The firm is expected to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Celanese will report full year earnings of $15.71 per share for the current year, with EPS estimates ranging from $14.71 to $16.54. For the next fiscal year, analysts forecast that the firm will report earnings of $15.91 per share, with EPS estimates ranging from $14.38 to $18.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Celanese.

Celanese (NYSE:CEGet Rating) last posted its quarterly earnings results on Thursday, January 27th. The basic materials company reported $4.91 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.14). The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Celanese had a net margin of 22.14% and a return on equity of 48.17%. The firm’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 EPS.

Several research firms recently commented on CE. Royal Bank of Canada boosted their price target on Celanese from $198.00 to $206.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 1st. Piper Sandler lowered Celanese from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $180.00 to $140.00 in a research report on Tuesday, February 22nd. Wells Fargo & Company reduced their price target on Celanese from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 1st. Zacks Investment Research lowered Celanese from a “buy” rating to a “hold” rating and set a $167.00 price target on the stock. in a research report on Monday, December 20th. Finally, Citigroup boosted their price target on Celanese from $198.00 to $206.00 in a research report on Tuesday, January 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $188.40.

In other Celanese news, SVP Thomas Francis Kelly purchased 1,800 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The shares were purchased at an average cost of $141.74 per share, with a total value of $255,132.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Dupont Capital Management Corp increased its position in Celanese by 1.4% in the 3rd quarter. Dupont Capital Management Corp now owns 4,639 shares of the basic materials company’s stock worth $699,000 after purchasing an additional 64 shares during the last quarter. Baystate Wealth Management LLC increased its position in Celanese by 55.9% in the 4th quarter. Baystate Wealth Management LLC now owns 184 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 66 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Celanese by 3.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,237 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 68 shares during the last quarter. Ranch Capital Advisors Inc. increased its position in Celanese by 2.7% in the 4th quarter. Ranch Capital Advisors Inc. now owns 2,543 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 68 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its position in Celanese by 3.6% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,963 shares of the basic materials company’s stock worth $296,000 after purchasing an additional 69 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Celanese stock traded down $1.95 during midday trading on Friday, hitting $145.17. 987,027 shares of the company were exchanged, compared to its average volume of 830,456. The company’s fifty day moving average price is $144.35 and its 200-day moving average price is $156.72. The company has a market cap of $15.68 billion, a PE ratio of 8.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.52 and a quick ratio of 0.91. Celanese has a fifty-two week low of $132.26 and a fifty-two week high of $176.50.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 8th. Investors of record on Tuesday, February 22nd were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, February 18th. Celanese’s payout ratio is 16.06%.

About Celanese (Get Rating)

Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities. The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.

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