Celanese (CE) Releases Quarterly Earnings Results, Beats Expectations By $0.46 EPS

Celanese (NYSE:CE) posted its earnings results on Monday. The basic materials company reported $2.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.46, Bloomberg Earnings reports. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Celanese had a return on equity of 32.96% and a net margin of 13.73%. Celanese’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm earned $1.81 earnings per share.

Shares of CE opened at $106.42 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.79 and a debt-to-equity ratio of 1.00. Celanese has a one year low of $83.34 and a one year high of $114.00. The stock has a market capitalization of $14,146.70, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.36 and a beta of 1.33.

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Several research firms recently issued reports on CE. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research note on Wednesday, April 11th. BMO Capital Markets began coverage on Celanese in a research note on Tuesday, March 27th. They issued an “outperform” rating and a $131.00 target price on the stock. KeyCorp raised their target price on Celanese from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 21st. Robert W. Baird reissued a “buy” rating and issued a $130.00 target price on shares of Celanese in a research note on Monday, January 29th. Finally, Deutsche Bank restated a “buy” rating and issued a $128.00 price objective on shares of Celanese in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. Celanese has an average rating of “Buy” and a consensus target price of $115.69.

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About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

Earnings History for Celanese (NYSE:CE)

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