Celanese (NYSE:CE) Releases FY24 Earnings Guidance

Celanese (NYSE:CE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $10.25-10.75 for the period, compared to the consensus EPS estimate of $11.11. Celanese also updated its FY 2024 guidance to 10.250-10.750 EPS.

Wall Street Analyst Weigh In

Several research firms have commented on CE. 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. Robert W. Baird boosted their price objective 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. Wells Fargo & Company lowered their price target on Celanese from $195.00 to $180.00 and set an overweight rating for the company in a research report on Thursday, June 27th. KeyCorp cut their price objective on Celanese from $190.00 to $180.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. Finally, Piper Sandler boosted their target price on Celanese from $170.00 to $180.00 and gave the stock an overweight rating in a report on Friday, May 17th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $162.75.

Celanese Stock Down 4.4 %

NYSE CE traded down $6.00 on Friday, hitting $131.55. 1,558,092 shares of the stock traded hands, compared to its average volume of 759,015. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $14.37 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 0.59 and a beta of 1.30. Celanese has a twelve month low of $110.76 and a twelve month high of $172.16. The stock has a 50-day moving average of $140.61 and a 200 day moving average of $150.24.

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

Celanese Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Tuesday, July 30th will be issued a dividend of $0.70 per share. 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 (DPR) 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.