Celanese (CE) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates

Wall Street analysts forecast that Celanese (CE) will report quarterly earnings of $2.84 per share in its upcoming release, pointing to a year-over-year increase of 13.6%. It is anticipated that revenues will amount to $2.68 billion, exhibiting a decline of 1.4% compared to the year-ago quarter.The current level reflects a downward revision of 3.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.In light of this perspective, let's dive into the average estimates of certain Celanese metrics that are commonly tracked and forecasted by Wall Street analysts.Analysts predict that the 'Net Sales- Acetyl Chain' will reach $1.23 billion. The estimate indicates a change of +1% from the prior-year quarter.The consensus among analysts is that 'Net Sales- Engineered Materials' will reach $1.49 billion. The estimate suggests a change of -2.8% year over year.The collective assessment of analysts points to an estimated 'Operating EBITDA- Acetyl Chain' of $369.92 million. The estimate is in contrast to the year-ago figure of $365 million.The consensus estimate for 'Operating EBITDA- Engineered Materials' stands at $381.28 million. The estimate is in contrast to the year-ago figure of $340 million.View all Key Company Metrics for Celanese here>>>Shares of Celanese have demonstrated returns of -6% over the past month compared to the Zacks S&P 500 composite's +1.8% change. With a Zacks Rank #5 (Strong Sell), CE is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Celanese Corporation (CE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks