In the latest trading session, Celanese (CE) closed at $116.97, marking a +1.46% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.18%.
Heading into today, shares of the chemical company had lost 1.98% over the past month, lagging the Basic Materials sector's gain of 2.82% and the S&P 500's loss of 1.14% in that time.
Celanese will be looking to display strength as it nears 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, the Zacks Consensus Estimate for revenue is projecting net sales of $2.32 billion, up 2.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.18 per share and revenue of $9.45 billion, which would represent changes of +0.33% and +10.71%, respectively, from the prior year.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Celanese is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Celanese is holding a Forward P/E ratio of 6.34. This valuation marks a discount compared to its industry's average Forward P/E of 13.77.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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