Brokerages Anticipate Celanese Co. (CE) Will Post Quarterly Sales of $1.71 Billion

Analysts expect Celanese Co. (NYSE:CE) to report sales of $1.71 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Celanese’s earnings. The lowest sales estimate is $1.69 billion and the highest is $1.73 billion. Celanese reported sales of $1.47 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.3%. The company is scheduled to issue its next quarterly earnings results on Monday, April 16th.

On average, analysts expect that Celanese will report full-year sales of $1.71 billion for the current year, with estimates ranging from $6.40 billion to $6.98 billion. For the next year, analysts forecast that the business will post sales of $7.08 billion per share, with estimates ranging from $6.73 billion to $7.67 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Celanese.

Celanese (NYSE:CE) last released its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.12. Celanese had a return on equity of 32.96% and a net margin of 13.73%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business earned $1.52 EPS. Celanese’s quarterly revenue was up 21.5% compared to the same quarter last year.

A number of equities analysts have issued reports on CE shares. Zacks Investment Research lowered Celanese from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Tudor Pickering started coverage on Celanese in a research report on Tuesday, November 14th. They issued a “buy” rating on the stock. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $110.00 target price (up from $104.00) on shares of Celanese in a research report on Wednesday, January 17th. Citigroup upped their target price on Celanese from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of Celanese in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $113.28.

In related news, CFO Christopher W. Jensen sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the chief financial officer now directly owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CE. Amundi Pioneer Asset Management Inc. increased its position in Celanese by 37.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,114,498 shares of the basic materials company’s stock worth $119,340,000 after buying an additional 302,015 shares during the period. Janus Henderson Group PLC increased its position in Celanese by 134.3% in the third quarter. Janus Henderson Group PLC now owns 465,222 shares of the basic materials company’s stock worth $48,509,000 after buying an additional 266,698 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in Celanese by 13.4% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,150,894 shares of the basic materials company’s stock worth $224,274,000 after buying an additional 253,809 shares during the period. Victory Capital Management Inc. grew its stake in shares of Celanese by 10.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock worth $238,797,000 after purchasing an additional 212,134 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of Celanese in the fourth quarter worth $20,909,000. 96.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Celanese (NYSE CE) traded up $0.11 on Monday, hitting $102.54. The company’s stock had a trading volume of 543,809 shares, compared to its average volume of 682,328. Celanese has a one year low of $83.34 and a one year high of $114.00. The firm has a market cap of $13,910.00, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.79.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Tuesday, February 20th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, February 16th. Celanese’s dividend payout ratio is currently 26.86%.

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About Celanese

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.

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