Shares of Celanese Corporation (NYSE:CE) surged on Friday following the chemical maker declared an improved than anticipated profit for the Q1.
The firm declared on late Thursday that it generated $142M, or 89 cents a share, dropped from $193M, or $1.21 a share, a year previous. Following adjusting for several special items, it generated $1.14 from continuing operations. That surged the 78 cents a share that analysts polled by FactSet had estimated.
Its net revenue of $1.6B was almost flat with the previous year, meeting analyst’s estimates.
The firm benefited from a main dividend salaried by a Chinese joint venture and gains in the consumer specialties and advanced engineered materials units. However, Citi analyst PJ Juvekar declared that it was the first good quarter under new organization and reiterated a “Buy” rating on the stock.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes E I Du Pont De Nemours And Co (NYSE:DD) up +1.23%, Rentech, Inc. (NYSEAMEX:RTK) edged up +11.79%, Eastman Chemical Company(NYSE:EMN) which also increased +5.20% and Huntsman Corporation (NYSE:HUN) closed up +1.74%.
Celanese Corporation (NYSE:CE) stock’s trade at beginning with a price of $48.18 and throughout the trading session climbed at a high of $49.18 other than when day-trade ended the stock finally advanced +11.53% to $47.10.
The stock is going forward its 52 week low with +44.51% and lagging behind from its 52 week high price with -7.01%. CE last month stock price volatility remained 3.14%.
CE stock institutional ownership remained 99.99% while insider ownership included 0.25%. In its share capital CE has 159.67 million outstanding shares among them 158.85 million shares have been floated in market exchange.
Company’s beta coefficient included 2.36. Beta factors measures the amount of market risk associated with market trade.
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