Celanese (CE - Free Report) closed at $100.26 in the latest trading session, marking a -1.41% move from the prior day. This change was narrower than the S&P 500's 1.82% loss on the day. Elsewhere, the Dow lost 2.21%, while the tech-heavy Nasdaq lost 1.7%.
Coming into today, shares of the chemical company had gained 2.46% in the past month. In that same time, the Basic Materials sector lost 0.75%, while the S&P 500 lost 2.57%.
CE will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2019. On that day, CE is projected to report earnings of $2.44 per share, which would represent year-over-year growth of 23.23%. Meanwhile, our latest consensus estimate is calling for revenue of $1.74 billion, up 8.95% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.10 per share and revenue of $7.20 billion. These totals would mark changes of +47.8% and +17.24%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for CE. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.56% higher within the past month. CE is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that CE has a Forward P/E ratio of 9.16 right now. This valuation marks a discount compared to its industry's average Forward P/E of 15.29.
Meanwhile, CE's PEG ratio is currently 0.92. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Chemical - Specialty stocks are, on average, holding a PEG ratio of 1.38 based on yesterday's closing prices.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.