Celanese (NYSE:CE) Releases Q3 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

CE has been the topic of a number of research analyst reports. Citigroup decreased their target price on Celanese from $167.00 to $148.00 and set a neutral rating on the stock in a research note on Thursday, June 27th. Bank of America decreased their target price on Celanese from $147.00 to $144.00 and set an underperform rating on the stock in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft decreased their target price on Celanese from $175.00 to $160.00 and set a hold rating on the stock in a research note on Monday, June 10th. KeyCorp decreased their target price on Celanese from $190.00 to $180.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Finally, Mizuho upped their price objective on Celanese from $161.00 to $173.00 and gave the stock a neutral rating in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $162.75.

Celanese Stock Down 4.4 %

Shares of CE stock traded down $6.00 during midday trading on Friday, reaching $131.55. 1,558,092 shares of the stock were exchanged, compared to its average volume of 759,015. Celanese has a 1 year low of $110.76 and a 1 year high of $172.16. The company’s 50 day moving average is $140.61 and its two-hundred day moving average is $150.28. 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 firm has a market cap 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). Celanese had a return on equity of 13.73% and a net margin of 18.24%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the company posted $2.17 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts predict that Celanese will post 11.26 EPS for the current year.

Celanese Dividend Announcement

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

About Celanese

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.