Celanese (NYSE:CE) Posts Earnings Results

Celanese (NYSE:CE) issued its quarterly earnings data on Monday. The basic materials company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.41), Briefing.com reports. 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 the consensus estimate of $2.70 billion. During the same quarter last year, the company earned $2.50 EPS. Celanese’s revenue for the quarter was down 2.8% on a year-over-year basis. Celanese updated its Q4 guidance to $1.25 EPS and its Q4 2024 guidance to 1.250-1.250 EPS.

Celanese Trading Down 24.9 %

Shares of CE stock traded down $30.71 during trading hours on Tuesday, hitting $92.79. The company had a trading volume of 7,033,242 shares, compared to its average volume of 804,130. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.28 and a quick ratio of 0.74. The company’s fifty day moving average is $129.58 and its 200 day moving average is $138.25. Celanese has a fifty-two week low of $91.83 and a fifty-two week high of $172.16. The stock has a market capitalization of $10.14 billion, a PE ratio of 5.30, a price-to-earnings-growth ratio of 0.72 and a beta of 1.31.

Celanese Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors 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 of this dividend is Wednesday, October 30th. Celanese’s payout ratio is 15.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CE shares. Barclays cut their price objective on Celanese from $170.00 to $151.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Bank of America dropped their price target on shares of Celanese from $137.00 to $128.00 and set an “underperform” rating for the company in a research note on Monday, August 12th. BMO Capital Markets cut their target price on Celanese from $142.00 to $138.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird reduced their target price on Celanese from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Vertical Research lowered shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $145.00.

Insider Activity

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $129.51, for a total transaction of $605,459.25. Following the sale, the chief operating officer now directly owns 69,754 shares in the company, valued at $9,033,840.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.