Trading Report: The Celanese Corp. (CE) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

The Celanese Corp. (CE) Announces Quarterly  Earnings Results, Beats Expectations By $0.06 EPS

Celanese Corp. (NYSE:CE) announced its quarterly earnings results on Monday. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.06. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The company earned $1.32 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Celanese Corp. updated its FY16 guidance to $6.50-6.62 EPS.

Celanese Corp. (NYSE:CE) traded up 0.33% during mid-day trading on Monday, reaching $63.58. The company’s stock had a trading volume of 2,115,878 shares. The stock’s 50 day moving average is $64.03 and its 200 day moving average is $67.25. Celanese Corp. has a 12 month low of $55.07 and a 12 month high of $74.55. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 27.61 and a beta of 1.61.

Several equities analysts have recently issued reports on CE shares. Royal Bank Of Canada reduced their price target on shares of Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Thursday, July 28th. Zacks Investment Research upgraded shares of Celanese Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Citigroup Inc. cut shares of Celanese Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $71.00 in a research note on Wednesday, September 7th. Susquehanna started coverage on shares of Celanese Corp. in a research note on Friday, July 1st. They set a “positive” rating and a $80.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Celanese Corp. from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $74.19.

Several hedge funds have recently made changes to their positions in the company. Banced Corp acquired a new stake in shares of Celanese Corp. during the second quarter valued at approximately $216,000. BlackRock Investment Management LLC boosted its stake 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 last quarter. BlackRock Inc. boosted its stake 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 last quarter. BlackRock Fund Advisors boosted its stake 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 last quarter. Finally, BlackRock Group LTD boosted its stake 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 last quarter. Institutional investors own 95.98% of the company’s stock.

About Celanese Corp.

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