Analysts expect Celanese Co. (NYSE:CE) to post $1.86 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Celanese’s earnings. The lowest sales estimate is $1.76 billion and the highest is $1.99 billion. Celanese posted sales of $1.19 billion during the same quarter last year, which would indicate a positive year over year growth rate of 56.3%. The business is expected to announce its next earnings results on Tuesday, July 27th.
On average, analysts expect that Celanese will report full-year sales of $6.95 billion for the current fiscal year, with estimates ranging from $6.83 billion to $7.19 billion. For the next year, analysts expect that the firm will post sales of $7.09 billion, with estimates ranging from $6.83 billion to $7.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Celanese.
Celanese (NYSE:CE) last issued its quarterly earnings data on Wednesday, April 21st. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.96 by $0.50. Celanese had a return on equity of 30.19% and a net margin of 34.86%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis.
In other Celanese news, Director John K. Wulff sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $153.82, for a total transaction of $922,920.00. Following the sale, the director now directly owns 12,421 shares of the company’s stock, valued at approximately $1,910,598.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Twin Lakes Capital Management LLC purchased a new stake in shares of Celanese in the first quarter valued at about $27,000. Denali Advisors LLC bought a new position in Celanese during the first quarter valued at about $30,000. E Fund Management Co. Ltd. bought a new position in Celanese during the first quarter valued at about $30,000. Vantage Consulting Group Inc bought a new position in Celanese during the fourth quarter worth about $31,000. Finally, Solstein Capital LLC bought a new position in Celanese during the first quarter worth about $33,000. Institutional investors own 92.82% of the company’s stock.
Shares of NYSE CE traded up $0.17 during trading on Friday, hitting $148.75. The company had a trading volume of 659,168 shares, compared to its average volume of 815,084. The company has a market cap of $16.75 billion, a P/E ratio of 8.29, a P/E/G ratio of 0.59 and a beta of 1.24. Celanese has a 52 week low of $81.63 and a 52 week high of $171.00. The firm has a 50-day moving average of $161.12. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 1.92.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 10th. Investors of record on Monday, April 26th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Friday, April 23rd. Celanese’s dividend payout ratio is 35.60%.
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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