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.
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%.
TRADEMARK VIOLATION NOTICE: “SunTrust Banks Weighs in on Celanese’s FY2018 Earnings (CE)” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another site, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/04/21/suntrust-banks-weighs-in-on-celaneses-fy2018-earnings-ce.html.
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.
Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.