Celanese Corporation [CE] Revenue clocked in at $5.67 billion, down -2.39% YTD: What’s Next?

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Celanese Corporation [NYSE: CE] gained 1.79% on the last trading session, reaching $120.18 price per share at the time. The company report on October 25, 2020 that Celanese Corporation Reports Third Quarter 2020 Earnings; Highlights Strong Demand Recovery.

Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today reported third quarter GAAP diluted earnings per share of $1.76 and adjusted earnings per share of $1.95. The Company recorded net sales of $1.4 billion driven by 20 percent volume recovery over the prior quarter. Third quarter operating profit was $184 million and adjusted EBIT was $290 million, sequential increases of $101 million and $91 million, respectively. Engineered Materials leveraged its customer project model, and the Acetyl Chain exercised the flexibility of its global network to maximize sequential growth on demand recovery. Celanese generated operating cash flow of $431 million and free cash flow of $351 million in the quarter. Cash returned to shareholders in the third quarter totaled $184 million, consisting of $111 million in share repurchases and $73 million in dividends. The recently closed Polyplastics transaction unlocked cash proceeds of approximately $1.6 billion and further improves the Company’s ability to opportunistically invest in organic growth, acquisitions, and share repurchases.

“Our financial results are again a reflection of the commitment of our employees to the success of Celanese in any environment. They have taken decisive actions throughout this year to respond to the difficult realities of COVID-19 and continue to navigate persistent challenges to better serve and support our customers each day. With the recovery we have seen to date, I am pleased to share that all of our production facilities across the globe are again fully staffed and operating to meet demand. We continue to closely monitor business conditions and will remain nimble and purposeful in preparing ourselves for continued recovery and growth in the future. We are encouraged by robust demand recovery for our products across all regions in the third quarter,” said Lori Ryerkerk, chairman and chief executive officer.

Celanese Corporation represents 118.34 million in outstanding shares, while the company has a total market value of $13.97 billion with the latest information. CE stock price has been found in the range of $118.675 to $120.29.

If compared to the average trading volume of 784.62K shares, CE reached a trading volume of 1083653 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Celanese Corporation [CE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CE shares is $118.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CE stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for Celanese Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 07, 2020. The new note on the price target was released on September 22, 2020, representing the official price target for Celanese Corporation stock. Previously, the target price had yet another raise to $120, while Wells Fargo analysts kept a Overweight rating on CE stock.

The Average True Range (ATR) for Celanese Corporation is set at 3.06, with the Price to Sales ratio for CE stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 5.72, with the Price to Cash per share for the same quarter was set at 4.95. Price to Free Cash Flow for CE in the course of the last twelve months was 22.24 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for CE stock

Celanese Corporation [CE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.07. With this latest performance, CE shares gained by 13.96% in over the last four-week period, additionally plugging by 45.48% over the last 6 months – not to mention a drop of -2.70% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CE stock in for the last two-week period is set at 65.67, with the RSI for the last a single of trading hit 67.44, and the three-weeks RSI is set at 64.73 for Celanese Corporation [CE]. The present Moving Average for the last 50 days of trading for this stock 109.05, while it was recorded at 117.90 for the last single week of trading, and 95.14 for the last 200 days.

Celanese Corporation [CE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Celanese Corporation [CE] shares currently have an operating margin of +16.36 and a Gross Margin at +25.09. Celanese Corporation’s Net Margin is presently recorded at +13.63.

Return on Total Capital for CE is now 14.80, given the latest momentum, and Return on Invested Capital for the company is 14.24. Return on Equity for this stock inclined to 31.25, with Return on Assets sitting at 9.13. When it comes to the capital structure of this company, Celanese Corporation [CE] has a Total Debt to Total Equity ratio set at 164.14. Additionally, CE Total Debt to Total Capital is recorded at 62.14, with Total Debt to Total Assets ending up at 43.43. Long-Term Debt to Equity for the company is recorded at 143.20, with the Long-Term Debt to Total Capital now at 54.21.

Reflecting on the efficiency of the workforce at the company, Celanese Corporation [CE] managed to generate an average of $111,226 per employee. Receivables Turnover for the company is 5.04 with a Total Asset Turnover recorded at a value of 0.67.Celanese Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.20.

Celanese Corporation [CE]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Celanese Corporation posted 2.53/share EPS, while the average EPS was predicted by analysts to be reported at 2.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Celanese Corporation go to 1.70%.

An analysis of insider ownership at Celanese Corporation [CE]

There are presently around $13,885 million, or 99.05% of CE stock, in the hands of institutional investors. The top three institutional holders of CE stocks are: VANGUARD GROUP INC with ownership of 14,423,077, which is approximately 4.054% of the company’s market cap and around 0.20% of the total institutional ownership; DODGE & COX, holding 10,920,117 shares of the stock with an approximate value of $1.31 billion in CE stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $1.26 billion in CE stock with ownership of nearly 8.469% of the company’s market capitalization.

Positions in Celanese Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 224 institutional holders increased their position in Celanese Corporation [NYSE:CE] by around 9,083,301 shares. Additionally, 284 investors decreased positions by around 6,202,748 shares, while 67 investors held positions by with 100,249,325 shares. The mentioned changes placed institutional holdings at 115,535,374 shares, according to the latest SEC report filing. CE stock had 65 new institutional investments in for a total of 1,749,626 shares, while 69 institutional investors sold positions of 992,365 shares during the same period.

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