Celanese Co. (NYSE:CE) – Equities research analysts at SunTrust Banks lifted their FY2017 EPS estimates for shares of Celanese in a research note issued on Tuesday. SunTrust Banks analyst J. Sheehan now expects that the basic materials company will earn $7.45 per share for the year, up from their previous estimate of $7.35. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Celanese’s FY2018 earnings at $8.28 EPS.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Celanese from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Tudor Pickering assumed coverage on shares of Celanese in a report on Tuesday, November 14th. They set a “buy” rating for the company. Cowen increased their price target on shares of Celanese from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, September 20th. Citigroup cut their price target on shares of Celanese from $122.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 18th. Finally, UBS Group increased their price target on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $108.17.
Celanese (NYSE:CE) last announced its earnings results on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.01. Celanese had a net margin of 13.66% and a return on equity of 31.98%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company earned $1.67 earnings per share. The business’s revenue was up 18.4% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in CE. First PREMIER Bank lifted its stake in shares of Celanese by 900.0% during the fourth quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock valued at $107,000 after buying an additional 900 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Celanese by 24.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock valued at $101,000 after buying an additional 206 shares during the period. Toronto Dominion Bank lifted its stake in shares of Celanese by 8.4% during the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock valued at $164,000 after buying an additional 134 shares during the period. IBM Retirement Fund purchased a new position in shares of Celanese during the third quarter valued at approximately $217,000. Finally, Barrett Asset Management LLC lifted its stake in shares of Celanese by 40.0% during the third quarter. Barrett Asset Management LLC now owns 2,100 shares of the basic materials company’s stock valued at $219,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 96.06% of the company’s stock.
In other news, CFO Christopher W. Jensen sold 3,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the chief financial officer now directly owns 52,924 shares in the company, valued at $5,821,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher W. Jensen sold 1,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the completion of the sale, the chief financial officer now owns 60,086 shares in the company, valued at $6,289,802.48. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $699,380 over the last 90 days. 0.42% of the stock is currently owned by company insiders.
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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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