Celanese (NYSE:CE) Issues Q4 2024 Earnings Guidance

Celanese (NYSE:CE) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 1.250-1.250 for the period, compared to the consensus earnings per share estimate of 2.930. The company issued revenue guidance of -. Celanese also updated its Q4 guidance to $1.25 EPS.

Analyst Upgrades and Downgrades

CE has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $156.00 to $130.00 in a research note on Monday, August 5th. KeyCorp downgraded shares of Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Wells Fargo & Company downgraded shares of Celanese from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $165.00 to $115.00 in a research report on Tuesday. Vertical Research cut Celanese from a “hold” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Tuesday, October 29th. Finally, Barclays cut their price objective on Celanese from $170.00 to $151.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $148.31.

Celanese Trading Down 24.9 %

Shares of Celanese stock traded down $30.73 on Tuesday, reaching $92.77. The company had a trading volume of 5,189,520 shares, compared to its average volume of 795,514. Celanese has a 52-week low of $91.83 and a 52-week high of $172.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.74 and a current ratio of 1.28. The firm’s 50 day moving average price is $129.58 and its two-hundred day moving average price is $138.25. The firm has a market cap of $10.14 billion, a PE ratio of 5.39, a PEG ratio of 0.72 and a beta of 1.31.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.41). Celanese had a return on equity of 13.60% and a net margin of 18.24%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm earned $2.50 EPS. The business’s revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that Celanese will post 10.24 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, October 30th. Celanese’s dividend payout ratio (DPR) is currently 15.94%.

Insider Activity

In related news, COO Scott A. Richardson sold 4,675 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $129.51, for a total value of $605,459.25. Following the transaction, the chief operating officer now owns 69,754 shares in the company, valued at $9,033,840.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

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.