Celanese Co. (NYSE:CE) – Equities research analysts at SunTrust Banks lifted their Q3 2019 earnings per share (EPS) estimates for Celanese in a research note issued on Monday, July 15th. SunTrust Banks analyst J. Sheehan now anticipates that the basic materials company will post earnings of $2.80 per share for the quarter, up from their prior estimate of $2.78. SunTrust Banks also issued estimates for Celanese’s Q4 2019 earnings at $2.64 EPS and FY2021 earnings at $13.39 EPS.
Several other equities research analysts have also commented on CE. ValuEngine lowered shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. KeyCorp lowered shares of Steris from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Nomura raised their price target on shares of Twitter from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Alembic Global Advisors upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and raised their price target for the company from $95.00 to $115.00 in a research note on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $118.00.
Celanese (NYSE:CE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.13. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company posted $2.79 earnings per share. Celanese’s revenue was down 8.9% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of CE. Norges Bank acquired a new position in shares of Celanese during the fourth quarter valued at approximately $88,985,000. Geode Capital Management LLC increased its stake in shares of Celanese by 61.5% during the fourth quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock valued at $163,756,000 after acquiring an additional 694,491 shares during the period. Hexavest Inc. acquired a new position in shares of Celanese during the first quarter valued at approximately $32,435,000. JPMorgan Chase & Co. grew its position in Celanese by 20.6% in the first quarter. JPMorgan Chase & Co. now owns 1,892,634 shares of the basic materials company’s stock worth $186,634,000 after buying an additional 323,714 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Celanese by 256.6% in the fourth quarter. Principal Financial Group Inc. now owns 288,054 shares of the basic materials company’s stock worth $25,916,000 after buying an additional 207,273 shares during the last quarter. Institutional investors and hedge funds own 97.33% of the company’s stock.
In related news, Director John K. Wulff sold 9,175 shares of the firm’s 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 transaction, the director now owns 19,872 shares in the company, valued at $2,152,535.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 26th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.33%. Celanese’s dividend payout ratio is presently 22.55%.
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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