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 (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.

Analyst Ratings Changes

Several research analysts recently issued reports on CE shares. Royal Bank of Canada dropped their price objective on Celanese from $167.00 to $163.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Morgan Stanley lowered their target price on Celanese from $140.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday. Vertical Research lowered Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, October 29th. UBS Group decreased their price objective on Celanese from $193.00 to $184.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Piper Sandler lowered Celanese from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $180.00 to $150.00 in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $135.59.

Celanese Price Performance

Shares of Celanese stock traded up $1.69 on Wednesday, hitting $92.69. 2,641,313 shares of the company were exchanged, compared to its average volume of 829,885. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 5.18, a price-to-earnings-growth ratio of 0.72 and a beta of 1.31. The company has a 50-day moving average price of $128.78 and a 200 day moving average price of $137.81. Celanese has a 1-year low of $90.51 and a 1-year high of $172.16. The company has a quick ratio of 0.74, a current ratio of 1.28 and a debt-to-equity ratio of 1.45.

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

Celanese Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, October 30th. Celanese’s dividend payout ratio (DPR) is 15.94%.

Insiders Place Their Bets

In other news, COO Scott A. Richardson sold 4,675 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $129.51, for a total transaction of $605,459.25. Following the sale, the chief operating officer now owns 69,754 shares of the company’s stock, valued at approximately $9,033,840.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by 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.