Trade Report: The Celanese Corp. (CE) to Release Quarterly Earnings on Monday

The Celanese Corp. (CE) to Release Quarterly Earnings on Monday

Celanese Corp. (NYSE:CE) is set to issue its Q316 quarterly earnings data on Monday, October 17th.

Celanese Corp. (NYSE:CE) last released its quarterly earnings results on Monday, July 25th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.56 by $0.03. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The firm earned $1.35 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. Celanese Corp.’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, analysts expect Celanese Corp. to post $6.54 EPS for the current fiscal year and $6.98 EPS for the next fiscal year.

Shares of Celanese Corp. (NYSE:CE) opened at 63.64 on Friday. The company has a 50-day moving average of $64.10 and a 200 day moving average of $67.26. Celanese Corp. has a 52-week low of $55.07 and a 52-week high of $74.55. The stock has a market cap of $9.21 billion, a P/E ratio of 27.63 and a beta of 1.61.

Several institutional investors have recently made changes to their positions in CE. Banced Corp purchased a new position in shares of Celanese Corp. during the second quarter valued at about $216,000. BlackRock Investment Management LLC increased its position in shares of Celanese Corp. by 3.1% in the second quarter. BlackRock Investment Management LLC now owns 96,377 shares of the company’s stock valued at $6,308,000 after buying an additional 2,874 shares during the period. BlackRock Inc. increased its position in shares of Celanese Corp. by 62.0% in the second quarter. BlackRock Inc. now owns 133,130 shares of the company’s stock valued at $8,714,000 after buying an additional 50,973 shares during the period. BlackRock Fund Advisors increased its position in shares of Celanese Corp. by 3.9% in the second quarter. BlackRock Fund Advisors now owns 1,551,201 shares of the company’s stock valued at $101,526,000 after buying an additional 58,071 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Celanese Corp. by 7.4% in the second quarter. BlackRock Group LTD now owns 956,584 shares of the company’s stock valued at $62,610,000 after buying an additional 65,817 shares during the period. 95.96% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on CE. Citigroup Inc. lowered shares of Celanese Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $71.00 in a research note on Wednesday, September 7th. Zacks Investment Research lowered shares of Celanese Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 19th. Barclays PLC dropped their price objective on shares of Celanese Corp. from $82.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating on shares of Celanese Corp. in a research note on Tuesday, August 23rd. Finally, KeyCorp began coverage on shares of Celanese Corp. in a research note on Thursday, October 6th. They set an “overweight” rating and a $80.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $74.19.

About Celanese Corp.

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