Celanese (NYSE:CE) Issues Q3 2024 Earnings Guidance

Celanese (NYSE:CE) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.750-3.000 for the period, compared to the consensus EPS estimate of 3.190. The company issued revenue guidance of -. Celanese also updated its FY 2024 guidance to 10.250-10.750 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Robert W. Baird upped their price target on Celanese from $165.00 to $180.00 and gave the company an outperform rating in a research report on Friday, May 10th. UBS Group lowered their target price on Celanese from $193.00 to $184.00 and set a buy rating for the company in a research note on Tuesday, July 9th. KeyCorp lowered their target price on Celanese from $190.00 to $180.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company lowered their target price on Celanese from $195.00 to $180.00 and set an overweight rating for the company in a research note on Thursday, June 27th. Finally, Piper Sandler raised their target price on Celanese from $170.00 to $180.00 and gave the company an overweight rating in a research note on Friday, May 17th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Celanese presently has a consensus rating of Hold and a consensus target price of $162.75.

Celanese Stock Down 4.4 %

Shares of Celanese stock traded down $6.00 on Friday, reaching $131.55. The company’s stock had a trading volume of 1,558,092 shares, compared to its average volume of 759,015. The company has a market capitalization of $14.37 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 0.59 and a beta of 1.30. The firm’s fifty day simple moving average is $140.61 and its two-hundred day simple moving average is $150.28. Celanese has a 52 week low of $110.76 and a 52 week high of $172.16. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46.

Celanese (NYSE:CE) last posted its earnings results on Thursday, August 1st. The basic materials company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.42). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.76 billion. Celanese had a return on equity of 13.73% and a net margin of 18.24%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.17 EPS. Equities analysts anticipate that Celanese will post 11.26 earnings per share for the current year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Tuesday, July 30th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, July 30th. Celanese’s payout ratio is 15.41%.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.