Celanese Corporation (CE) announced its most recent quarterly financial results on Monday, Oct-17-2016. CE said it had a profit of $1.67 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $1.61. The company posted revenue of $1323.00 million in the period, compared to analysts expectations of $1376.51 million. CE’s revenue was down -6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.
Many Wall Street Analysts have commented on Celanese Corporation. KeyBanc Capital Mkts Initiated Celanese Corporation on Oct 7, 2016 to “Overweight”, Price Target of the shares are set at $80.Celanese Corporation was Downgraded by Citigroup to ” Neutral” on Sep 7, 2016. Shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Sector Perform” and Lowered the Price Target to $ 72 from a previous price target of $76 .
Celanese Corporation closed down -0.27 points or -0.42% at $63.37 with 14,85,997 shares getting traded on Friday. Post opening the session at $64.17, the shares hit an intraday low of $63.31 and an intraday high of $64.67 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.