Celanese (NYSE:CE) Releases 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 (EPS) guidance of 1.250-1.250 for the period, compared to the consensus estimate of 2.930. The company issued revenue guidance of -. Celanese also updated its Q4 guidance to $1.25 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CE shares. Barclays cut their target price on shares of Celanese from $170.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. KeyCorp downgraded Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Celanese from $160.00 to $135.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company lowered shares of Celanese from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $165.00 to $115.00 in a report on Tuesday. Finally, Piper Sandler cut Celanese from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $180.00 to $150.00 in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Celanese currently has a consensus rating of “Hold” and a consensus target price of $148.31.

Celanese Trading Down 24.9 %

Celanese stock traded down $30.73 during trading hours on Tuesday, reaching $92.77. 5,189,520 shares of the company’s stock traded hands, compared to its average volume of 795,514. Celanese has a fifty-two week low of $91.83 and a fifty-two week high of $172.16. The firm’s 50 day moving average is $129.58 and its 200-day moving average is $138.25. 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 has a market capitalization of $10.14 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.72 and a beta of 1.31.

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

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be issued a dividend of $0.70 per share. 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 3.02%. Celanese’s payout ratio is presently 15.94%.

Insider Buying and Selling at Celanese

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $129.51, for a total value of $605,459.25. Following the transaction, the chief operating officer now directly owns 69,754 shares in the company, valued at $9,033,840.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.