Celanese (NYSE:CE) Issues FY 2024 Earnings Guidance

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

Celanese Price Performance

Shares of CE stock traded down $3.60 on Thursday, reaching $137.55. The company had a trading volume of 1,067,468 shares, compared to its average volume of 722,141. The business’s 50-day moving average is $141.32 and its 200 day moving average is $150.44. The stock has a market capitalization of $15.02 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30. Celanese has a one year low of $110.76 and a one year high of $172.16. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46.

Celanese (NYSE:CE) last released its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.17. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the firm earned $2.01 EPS. The company’s revenue was down 8.5% compared to the same quarter last year. Equities research analysts forecast that Celanese will post 11.26 EPS for the current fiscal year.

Celanese Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Tuesday, July 30th will be given a dividend of $0.70 per share. 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 2.04%. Celanese’s dividend payout ratio (DPR) is currently 15.41%.

Analyst Ratings Changes

CE has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on Celanese from $195.00 to $180.00 and set an overweight rating on the stock in a report on Thursday, June 27th. Citigroup dropped their price objective on Celanese from $167.00 to $148.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. KeyCorp dropped their target price on Celanese from $190.00 to $180.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. UBS Group cut their price target on Celanese from $193.00 to $184.00 and set a buy rating for the company in a research note on Tuesday, July 9th. Finally, BMO Capital Markets restated a market perform rating and issued a $158.00 target price on shares of Celanese in a report on Tuesday, June 11th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Celanese presently has a consensus rating of Hold and an average target price of $162.75.

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.