Celanese (NYSE:CE) Updates Q3 Earnings Guidance

Celanese (NYSE:CE) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.75-3.00 for the period, compared to the consensus earnings per share estimate of $3.19. Celanese also updated its FY 2024 guidance to 10.250-10.750 EPS.

Celanese Price Performance

Shares of CE stock traded down $6.00 on Friday, reaching $131.55. The company had a trading volume of 1,558,092 shares, compared to its average volume of 759,015. The business’s 50-day moving average is $140.61 and its 200 day moving average is $150.24. Celanese has a one year low of $110.76 and a one year 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. The stock has a market capitalization of $14.37 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 0.59 and a beta of 1.30.

Celanese (NYSE:CE) last posted its earnings results on Thursday, August 1st. The basic materials company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.42). The business had revenue of $2.65 billion for 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 company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.17 earnings per share. Equities research analysts forecast that Celanese will post 11.26 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Tuesday, July 30th will be paid 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 is Tuesday, July 30th. Celanese’s dividend payout ratio is currently 15.41%.

Analyst Ratings Changes

Several research analysts have issued reports on CE shares. Mizuho raised their price target on shares of Celanese from $161.00 to $173.00 and gave the stock a neutral rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Celanese from $175.00 to $160.00 and set a hold rating for the company in a research note on Monday, June 10th. Citigroup decreased their price target on Celanese from $167.00 to $148.00 and set a neutral rating for the company in a report on Thursday, June 27th. UBS Group dropped their price objective on Celanese from $193.00 to $184.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. Finally, BMO Capital Markets reaffirmed a market perform rating and set a $158.00 target price on shares of Celanese in a research note on Tuesday, June 11th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $162.75.

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.