SunTrust Banks Weighs in on Celanese’s FY2018 Earnings (CE)

Celanese (NYSE:CE) – Analysts at SunTrust Banks upped their FY2018 earnings estimates for shares of Celanese in a research note issued on Tuesday, April 17th. SunTrust Banks analyst J. Sheehan now forecasts that the basic materials company will post earnings of $9.30 per share for the year, up from their previous forecast of $8.56. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Celanese’s FY2019 earnings at $10.03 EPS.

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Celanese (NYSE:CE) last announced its quarterly earnings results on Monday, April 16th. The basic materials company reported $2.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.46. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.66 billion. Celanese had a return on equity of 35.22% and a net margin of 15.69%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS.

CE has been the subject of several other reports. BMO Capital Markets started coverage on Celanese in a report on Tuesday, March 27th. They set an “outperform” rating and a $131.00 price target for the company. UBS lifted their price target on Celanese from $107.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a report on Tuesday, January 23rd. Wells Fargo reiterated a “market perform” rating and set a $110.00 price target (up from $104.00) on shares of Celanese in a report on Wednesday, January 17th. Finally, Robert W. Baird reiterated a “buy” rating and set a $130.00 price target on shares of Celanese in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Celanese currently has an average rating of “Buy” and a consensus price target of $116.60.

Shares of Celanese stock opened at $111.70 on Friday. The stock has a market cap of $15,134.09, a PE ratio of 14.87, a PEG ratio of 1.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.88 and a quick ratio of 1.21. Celanese has a 52-week low of $83.34 and a 52-week high of $114.00.

Several hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB raised its stake in shares of Celanese by 19.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 13,678 shares of the basic materials company’s stock valued at $1,465,000 after acquiring an additional 2,206 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Celanese by 61.0% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 125,507 shares of the basic materials company’s stock valued at $13,439,000 after acquiring an additional 47,533 shares in the last quarter. Tuttle Tactical Management LLC bought a new position in shares of Celanese in the 4th quarter valued at approximately $1,462,000. William Blair Investment Management LLC raised its stake in shares of Celanese by 4.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,255,537 shares of the basic materials company’s stock valued at $134,443,000 after acquiring an additional 49,552 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Celanese in the 4th quarter valued at approximately $160,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Monday, April 30th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Celanese’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, April 27th. Celanese’s dividend payout ratio (DPR) is presently 24.50%.

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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 and Estimates for Celanese (NYSE:CE)

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