Celanese (NYSE:CE) Updates Q4 2024 Earnings Guidance

Celanese (NYSE:CE) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 1.250-1.250 for the period, compared to the consensus earnings per share estimate of 2.930. The company issued revenue guidance of -. Celanese also updated its Q4 guidance to $1.25 EPS.

Celanese Price Performance

NYSE:CE traded down $2.57 during trading hours on Thursday, reaching $89.87. 1,649,200 shares of the company traded hands, compared to its average volume of 843,447. The stock has a market cap of $9.82 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.72 and a beta of 1.31. The firm’s 50-day moving average is $128.06 and its 200-day moving average is $137.49. Celanese has a 1-year low of $89.12 and a 1-year high of $172.16. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.28 and a quick ratio of 0.74.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.41). Celanese had a return on equity of 13.23% and a net margin of 10.40%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm posted $2.50 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts expect that Celanese will post 10.24 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, October 30th. This represents a $2.80 annualized dividend and a dividend yield of 3.12%. Celanese’s dividend payout ratio is presently 28.17%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and dropped their price objective for the company from $135.00 to $110.00 in a research note on Wednesday. BMO Capital Markets lowered their price target on Celanese from $142.00 to $138.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Vertical Research downgraded shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, October 29th. Barclays dropped their price target on shares of Celanese from $151.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada reduced their price objective on shares of Celanese from $163.00 to $122.00 and set an “outperform” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $133.18.

Insider Buying and Selling

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of Celanese stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 69,754 shares of the company’s stock, valued at approximately $9,033,840.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.