Celanese (NYSE:CE) Issues FY24 Earnings Guidance

Celanese (NYSE:CE) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $10.25-10.75 for the period, compared to the consensus EPS estimate of $11.11. Celanese also updated its Q3 guidance to $2.75-3.00 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird increased their price target on Celanese from $165.00 to $180.00 and gave the stock an outperform rating in a report on Friday, May 10th. Royal Bank of Canada raised their target price on Celanese from $171.00 to $176.00 and gave the company an outperform rating in a report on Monday, May 13th. BMO Capital Markets restated a market perform rating and set a $158.00 target price on shares of Celanese in a report on Tuesday, June 11th. KeyCorp lowered their target price on Celanese from $190.00 to $180.00 and set an overweight rating for the company in a report on Wednesday, July 10th. Finally, Bank of America lowered their target price on Celanese from $147.00 to $144.00 and set an underperform rating for the company in a report on Monday, June 10th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $162.75.

Celanese Stock Down 2.6 %

Shares of NYSE CE traded down $3.60 during midday trading on Thursday, hitting $137.55. 1,042,573 shares of the company’s stock were exchanged, compared to its average volume of 721,971. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 0.73. Celanese has a twelve month low of $110.76 and a twelve month high of $172.16. The company has a market cap of $15.02 billion, a PE ratio of 7.84, a P/E/G ratio of 0.60 and a beta of 1.30. The firm’s fifty day simple moving average is $141.32 and its 200-day simple moving average is $150.44.

Celanese (NYSE:CE) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.17. Celanese had a return on equity of 14.00% and a net margin of 18.60%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the business posted $2.01 EPS. The company’s revenue was down 8.5% on a year-over-year basis. Research analysts predict that Celanese will post 11.26 EPS for the current fiscal year.

Celanese Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Tuesday, July 30th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, July 30th. This represents a $2.80 annualized dividend and a yield of 2.04%. Celanese’s dividend payout ratio is presently 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.