Celanese (NYSE:CE) Updates FY 2024 Earnings Guidance

Celanese (NYSE:CE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 10.250-10.750 for the period, compared to the consensus earnings per share estimate of 11.110. The company issued revenue guidance of -. Celanese also updated its FY24 guidance to $10.25-10.75 EPS.

Wall Street Analyst Weigh In

A number of brokerages have commented on CE. UBS Group decreased their price objective on Celanese from $193.00 to $184.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft reduced their target price on Celanese from $175.00 to $160.00 and set a hold rating on the stock in a report on Monday, June 10th. Robert W. Baird increased their target price on Celanese from $165.00 to $180.00 and gave the stock an outperform rating in a report on Friday, May 10th. Bank of America reduced their target price on Celanese from $147.00 to $144.00 and set an underperform rating on the stock in a report on Monday, June 10th. Finally, KeyCorp reduced their target price on Celanese from $190.00 to $180.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Celanese presently has a consensus rating of Hold and an average price target of $162.75.

Celanese Trading Down 4.4 %

Shares of CE 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. Celanese has a 52 week low of $110.76 and a 52 week high of $172.16. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. The stock has a market capitalization of $14.37 billion, a PE ratio of 7.24, a PEG ratio of 0.59 and a beta of 1.30. The business has a 50 day simple moving average of $140.61 and a two-hundred day simple moving average of $150.28.

Celanese (NYSE:CE) last issued 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). Celanese had a return on equity of 13.73% and a net margin of 18.24%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the business earned $2.17 earnings per share. Celanese’s revenue was down 5.2% compared to the same quarter last year. On average, analysts predict 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. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. Celanese’s payout ratio is currently 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.