Celanese Co. (NYSE:CE) – SunTrust Banks lowered their Q2 2019 earnings estimates for Celanese in a report issued on Wednesday, June 12th. SunTrust Banks analyst J. Sheehan now forecasts that the basic materials company will earn $2.44 per share for the quarter, down from their previous estimate of $2.67. SunTrust Banks also issued estimates for Celanese’s Q3 2019 earnings at $2.78 EPS, Q4 2019 earnings at $2.62 EPS and FY2019 earnings at $10.46 EPS.
A number of other equities research analysts have also recently weighed in on CE. ValuEngine upgraded shares of Celanese from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Zacks Investment Research upgraded shares of Celanese from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Barclays cut their price objective on shares of Celanese from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Deutsche Bank cut shares of Celanese from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a report on Sunday, April 14th. Finally, Alembic Global Advisors set a $95.00 price objective on shares of Celanese and gave the stock a “sell” rating in a report on Monday, April 22nd. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Celanese has a consensus rating of “Hold” and a consensus price target of $119.53.
Shares of CE opened at $105.26 on Friday. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.99 and a beta of 1.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58. Celanese has a fifty-two week low of $82.91 and a fifty-two week high of $119.29.
Celanese (NYSE:CE) last announced its quarterly earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.13. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Celanese had a net margin of 16.89% and a return on equity of 39.76%. Celanese’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.79 earnings per share.
In other news, Director John K. Wulff sold 9,175 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the sale, the director now owns 19,872 shares in the company, valued at $2,152,535.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.57% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Advisory Alpha LLC bought a new position in Celanese during the first quarter valued at approximately $27,000. Acima Private Wealth LLC bought a new position in Celanese in the fourth quarter worth approximately $31,000. Pearl River Capital LLC bought a new position in Celanese in the fourth quarter worth approximately $36,000. Prime Capital Investment Advisors LLC bought a new position in Celanese in the fourth quarter worth approximately $37,000. Finally, Investors Research Corp bought a new position in Celanese in the first quarter worth approximately $41,000. Institutional investors own 97.25% of the company’s stock.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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