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Celanese (CE) Gains As Market Dips: What You Should Know
In the latest trading session, Celanese (CE - Free Report) closed at $90.34, marking a +1.27% move from the previous day. This move outpaced the S&P 500's daily loss of 1.51%. Meanwhile, the Dow lost 1.71%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Prior to today's trading, shares of the chemical company had lost 17.94% over the past month. This has lagged the Basic Materials sector's loss of 10.7% and the S&P 500's loss of 9.52% in that time.
Investors will be hoping for strength from Celanese as it approaches its next earnings release. On that day, Celanese is projected to report earnings of $4.23 per share, which would represent a year-over-year decline of 12.24%. Meanwhile, our latest consensus estimate is calling for revenue of $2.32 billion, up 2.18% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.18 per share and revenue of $9.45 billion. These totals would mark changes of +0.33% and +10.71%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Celanese. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Celanese is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Celanese has a Forward P/E ratio of 4.91 right now. This represents a discount compared to its industry's average Forward P/E of 12.27.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.