Celanese (NYSE:CE) Releases FY 2024 Earnings Guidance

Celanese (NYSE:CE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 10.250-10.750 for the period, compared to the consensus estimate of 11.110. The company issued revenue guidance of -. Celanese also updated its FY24 guidance to $10.25-10.75 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Celanese from $175.00 to $160.00 and set a hold rating on the stock in a research note on Monday, June 10th. Robert W. Baird raised their price target on shares of Celanese from $165.00 to $180.00 and gave the company an outperform rating in a research note on Friday, May 10th. UBS Group lowered their target price on Celanese from $193.00 to $184.00 and set a buy rating on the stock in a report on Tuesday, July 9th. KeyCorp dropped their price target on Celanese from $190.00 to $180.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Finally, Bank of America dropped their target price on Celanese from $147.00 to $144.00 and set an underperform rating for the company in a report on Monday, June 10th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Celanese currently has an average rating of Hold and an average target price of $162.75.

Celanese Trading Down 4.4 %

Shares of NYSE CE traded down $6.00 during mid-day trading on Friday, reaching $131.55. 1,558,092 shares of the company’s stock were exchanged, compared to its average volume of 759,015. The firm has a market capitalization of $14.37 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 0.59 and a beta of 1.30. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. Celanese has a 52-week low of $110.76 and a 52-week high of $172.16. The company’s 50-day moving average is $140.61 and its 200-day moving average is $150.28.

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

Celanese Announces Dividend

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