SunTrust Banks Comments on Celanese Co.’s Q4 2017 Earnings (CE)
Celanese Co. (NYSE:CE) – Analysts at SunTrust Banks upped their Q4 2017 earnings estimates for Celanese in a report released on Tuesday. SunTrust Banks analyst J. Sheehan now anticipates that the basic materials company will post earnings of $1.92 per share for the quarter, up from their previous forecast of $1.83. SunTrust Banks currently has a “Buy” rating on the stock.
Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.92 by $0.01. Celanese had a return on equity of 31.98% and a net margin of 13.66%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business earned $1.67 EPS. The firm’s revenue was up 18.4% on a year-over-year basis.
Shares of Celanese (CE) opened at $110.76 on Thursday. Celanese has a 52-week low of $81.26 and a 52-week high of $112.43. The stock has a market capitalization of $14,875.20, a P/E ratio of 19.33, a P/E/G ratio of 1.48 and a beta of 1.32. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69.
In other Celanese news, CFO Christopher W. Jensen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $104.68, for a total value of $104,680.00. Following the completion of the sale, the chief financial officer now owns 60,086 shares in the company, valued at approximately $6,289,802.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher W. Jensen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the chief financial officer now owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $699,380 in the last ninety days. Insiders own 0.42% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Coastline Trust Co bought a new position in shares of Celanese during the 4th quarter worth approximately $964,000. Gateway Investment Advisers LLC lifted its position in shares of Celanese by 27.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 77,739 shares of the basic materials company’s stock worth $8,324,000 after buying an additional 16,668 shares during the period. KAMES CAPITAL plc bought a new position in shares of Celanese during the 4th quarter worth approximately $1,945,000. First PREMIER Bank lifted its position in shares of Celanese by 900.0% during the 4th quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock worth $107,000 after buying an additional 900 shares during the period. Finally, American National Bank lifted its position in shares of Celanese by 2.1% during the 4th quarter. American National Bank now owns 45,436 shares of the basic materials company’s stock worth $4,865,000 after buying an additional 935 shares during the period. Institutional investors and hedge funds own 96.06% of the company’s stock.
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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