Celanese (NYSE:CE) Issues Q4 Earnings Guidance

Celanese (NYSE:CE) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.25 for the period, compared to the consensus estimate of $2.93. Celanese also updated its Q4 2024 guidance to 1.250-1.250 EPS.

Celanese Trading Up 1.0 %

Shares of CE stock traded up $0.95 on Wednesday, hitting $91.95. The company had a trading volume of 1,975,717 shares, compared to its average volume of 826,789. The stock’s 50-day moving average is $128.78 and its two-hundred day moving average is $137.81. Celanese has a twelve month low of $90.51 and a twelve month high of $172.16. The firm has a market cap of $10.05 billion, a P/E ratio of 5.18, a P/E/G ratio of 0.72 and a beta of 1.31. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.74 and a current ratio of 1.28.

Celanese (NYSE:CE) last released its 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). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. Celanese had a return on equity of 13.60% and a net margin of 18.24%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 EPS. On average, equities research analysts anticipate that Celanese will post 10.24 earnings per share for the current fiscal year.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.05%. Celanese’s dividend payout ratio is presently 15.94%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BMO Capital Markets dropped their target price on Celanese from $142.00 to $138.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company lowered Celanese from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $165.00 to $115.00 in a report on Tuesday. UBS Group dropped 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. Royal Bank of Canada dropped their target price on Celanese from $167.00 to $163.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Finally, Piper Sandler downgraded Celanese from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $180.00 to $150.00 in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $135.59.

Insider Transactions at Celanese

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $129.51, for a total value of $605,459.25. Following the completion of the sale, the chief operating officer now owns 69,754 shares in the company, valued at approximately $9,033,840.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

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.