Celanese Corporation (CE) reported quarterly earnings results on Monday, Jul-25-2016. The company said it had a profit of $1.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $1.55. The company posted revenue of $1351.00 million in the period, compared to analysts expectations of $1426.07 million. The company’s revenue was down -8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS.
Many Wall Street Analysts have commented on Celanese Corporation. Celanese Corporation was Initiated by Susquehanna to “Positive” on Jul 1, 2016. Company shares were Upgraded by Cowen on Apr 29, 2016 to ” Outperform”, Firm has raised the Price Target to $ 80 from a previous price target of $66 .
Celanese Corporation opened for trading at $70.27 and hit $71.18 on the upside on Wednesday, eventually ending the session at $71.06, with a gain of 1.21% or 0.85 points. The heightened volatility saw the trading volume jump to 4,65,951 shares. Company has a market cap of $10,477 M.
In a different news, on Mar 17, 2016, David F Hoffmeister (director) sold 8,300 shares at $64.05 per share price. According to the SEC, on Mar 4, 2016, Lori A Johnston (SVP, Human Resources) sold 29,063 shares at $61.65 per share price. On Sep 1, 2015, Christopher W Jensen (SVP, Finance and CFO) sold 5,100 shares at $60.86 per share price, according to the Form-4 filing with the securities and exchange commission.
Celanese Corporation is a technology and specialty materials company. The Company’s business involves processing chemical raw materials such as methanol carbon monoxide and ethylene and natural products including wood pulp into chemicals thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials Consumer Specialties Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene ultra-high molecular weight polyethylene polybutylene terephthalate and liquid crystal polymers among others. Consumer Specialties’ products include acetate tow acetate flakes acetate film and high intensity sweeteners among others. Industrial Specialties’ products include conventional emulsions vinyl acetate ethylene emulsions and ethylene vinyl acetate among others. Acetyl Intermediates include acetic acid vinyl acetate monomer acetic anhydride and acetaldehyde among others.