3 Stocks to Watch on Tuesday: Celanese Corporation (CE), IDEX Corporation (IEX) and Sonic Corporation (SONC)

CE earnings missed estimates, IEX updates guidance and SONC earnings top outlook

By Karl Utermohlen, InvestorPlace Writer

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Gold lost 0.1% and crude oil gained 0.8% on a strong day for U.S. equities. The S&P 500 Index gained 0.2%, the Dow Jones Industrial Average surged 0.3% and the Nasdaq Composite hiked up 0.4%.

3 Stocks to Watch on Tuesday: Celanese Corporation (CE), IDEX Corporation (IEX) and Sonic Corporation (SONC)Several companies reported on their latest quarters Monday, including IDEX Corporation (NYSE:IEX), Celanese Corporation (NYSE:CE) and Sonic Corporation (NASDAQ:SONC).

Here’s what you should know:

IDEX Corporation (IEX)

IDEX unveiled its latest quarterly earnings guidance Monday.

The company announced that it will bring in $1.06 to $1.08 per share in its fourth quarter of fiscal 2017, which is better than Wall Street’s consensus estimate of $1.06 per share, according to Thomson Reuters.

IDEX also updated its fiscal 2017 guidance to $4.25 to $4.27 per share in profit.

Over the course of its third quarter, the company earned $83.77 million, or $1.08 per share, which was higher than the consensus estimate of $70.47 million, or 92 cents per share of the year-ago quarter.

The figure was ahead of the Wall Street outlook of $1.06 per share. Revenue came in at $574.49 million, which was 8.3% higher than the $530.36 million from a year ago.

IEX stock fell 0.1% after hours Monday.

Celanese Corporation (CE)

Celanese unveiled its latest quarterly earnings results late Monday as well.

The company raked in $1.68 per share in earnings on a GAAP basis, and $1.93 per share on an adjusted basis, which was above analysts’ expectations of $1.92 per share. Materials solutions sales rose 24% to $730 million.

Revenue came in at $1.6 billion, which was better than the consensus estimate of $1.49 billion, according to data compiled by Thomson Reuters. The figure was ahead of the year-ago sales of $1.32 billion.

The company’s adjusted earnings for the year where on the higher end of the 9% to 11% range on a year-over-year increase basis.

CE stock fell a fraction of a percentage after the bell yesterday.

Sonic Corporation (SONC)

Sonic reported on its latest period after the bell yesterday.

The fast food chain unveiled earnings of 45 cents per share, which topped the Wall Street consensus estimate of 43 cents per share by two cents. A year ago, the company earned 45 cents per share

Revenue came in at $123.6 million for Sonic during the quarter, coming in below the consensus estimate of $126.01 million. Revenue was down for the quarter by 23.8%

The company had a negative return on equity of 44.21% and a net margin of 13.23%. Sonic believes it will open 70 to 80 new locations around the country during fiscal 2018.

SONC stock fell over 4% after hours Monday.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/stocks-watch-tuesday-idex-corporation-iex-celanese-corporation-ce-sonic-corporation-sonc/.

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