Analysts Adjust Estimates for Celanese's Upcoming Earnings
Celanese Corporation Prepares for Earnings Announcement
Celanese Corporation (NYSE: CE) is set to announce its earnings results for the second quarter soon. Analysts are closely watching this report as it will provide insights into the company's financial health and market position.
Analyst Projections for Q2 Earnings
Given the economic conditions, analysts forecast that Celanese will report quarterly earnings of approximately $1.4 per share, a notable decrease from the $2.38 per share reported in the prior year. Revenue predictions for this quarter stand at $2.49 billion, which represents a decline from the previous year’s revenue of $2.65 billion.
Recent Performance and Stock Response
On a recent note, Celanese reported stronger-than-expected results for the first quarter, indicating resilience in its operations despite market challenges. However, investor sentiment was notably cautious, leading to a slight dip in share price, which fell 1.2% to finish at $48.05.
Analyst Ratings and Forecast Adjustments
Several analysts have reevaluated their ratings and price targets for Celanese leading up to the earnings announcement, reflecting the changing market dynamics. Let’s explore some of these insights:
- Wells Fargo analyst Michael Sison: Maintained an Overweight rating with an increased price target from $66 to $72. His accuracy rate is notable at 62%.
- BMO Capital analyst John McNulty: Upgraded his rating from Underperform to Market Perform, upping the price target to $55 from $46. This analyst has a 60% accuracy rate.
- Keybanc analyst Jeffrey Hammond: Maintained an Overweight rating and raised the price target from $71 to $76, showcasing a strong accuracy rate of 74%.
- Deutsche Bank analyst David Begleiter: Upheld a Buy rating with a revised price target from $70 to $75, supported by an accuracy rate of 72%.
- JP Morgan analyst Jeffrey Zekauskas: Maintained a Neutral rating, with a price target adjustment from $92 down to $54, carrying an accuracy rate of 65%.
These revisions and ratings reflect a consensus of cautious optimism tempered with the realities of the current economic climate.
Investment Outlook for CE Stock
Investors considering whether to invest in Celanese (CE) should closely monitor these analysts' insights. Their evaluations and market input are crucial in shaping the landscape leading up to the earnings report.
Frequently Asked Questions
What are Celanese's projected earnings per share for Q2?
Analysts expect Celanese to report earnings of around $1.4 per share for the second quarter.
How does this compare to last year's earnings?
This projection represents a decrease compared to last year's earnings of $2.38 per share.
What is the expected revenue for Celanese in the upcoming report?
Expected revenue for the quarter is approximately $2.49 billion, down from $2.65 billion last year.
How have the analysts rated Celanese recently?
Analysts have issued a range of ratings, with several upgrading their forecasts and targets based on recent performance insights.
What influences analysts' earnings forecasts for Celanese?
Analysts consider various factors, including market conditions, the company's recent earnings reports, and economic indicators that impact performance.
About The Author
Contact Ryan Hughes privately here. Or send an email with ATTN: Ryan Hughes as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.