Celanese (NYSE:CE) Issues Q3 Earnings Guidance

Celanese (NYSE:CE) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $2.75-3.00 for the period, compared to the consensus EPS estimate of $3.19. Celanese also updated its FY 2024 guidance to 10.250-10.750 EPS.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America lowered their price target on Celanese from $147.00 to $144.00 and set an underperform rating for the company in a report on Monday, June 10th. Robert W. Baird increased their price target on Celanese from $165.00 to $180.00 and gave the stock an outperform rating in a report on Friday, May 10th. Citigroup lowered their price target on Celanese from $167.00 to $148.00 and set a neutral rating for the company in a report on Thursday, June 27th. BMO Capital Markets restated a market perform rating and issued a $158.00 price target on shares of Celanese in a report on Tuesday, June 11th. Finally, Mizuho increased their price target on Celanese from $161.00 to $173.00 and gave the stock a neutral rating in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Celanese has a consensus rating of Hold and a consensus price target of $162.75.

Celanese Price Performance

Celanese stock traded down $6.00 during mid-day trading on Friday, reaching $131.55. 1,558,092 shares of the company were exchanged, compared to its average volume of 759,015. The company has a fifty day simple moving average of $140.61 and a 200-day simple moving average of $150.24. Celanese has a 12 month low of $110.76 and a 12 month high of $172.16. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 0.73. The firm has a market cap of $14.37 billion, a PE ratio of 7.24, a PEG ratio of 0.59 and a beta of 1.30.

Celanese (NYSE:CE) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $2.38 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 the consensus estimate 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 quarter last year, the business earned $2.17 EPS. As a group, equities research analysts expect that Celanese will post 11.26 earnings per share for the current fiscal year.

Celanese Announces Dividend

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