Celanese (NYSE:CE) Updates Q4 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CE. Vertical Research cut shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, October 29th. Robert W. Baird dropped their target price on Celanese from $150.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $156.00 to $130.00 in a research report on Monday, August 5th. Mizuho decreased their target price on shares of Celanese from $132.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Barclays dropped their target price on shares of Celanese from $151.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $133.18.

Celanese Stock Performance

Shares of CE traded down $2.57 during mid-day trading on Thursday, hitting $89.87. 1,649,200 shares of the company’s stock were exchanged, compared to its average volume of 843,447. The business’s 50 day moving average is $128.06 and its two-hundred day moving average is $137.49. Celanese has a fifty-two week low of $89.12 and a fifty-two week high of $172.16. The firm has a market capitalization 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 company has a current ratio of 1.28, a quick ratio of 0.74 and a debt-to-equity ratio of 1.45.

Celanese (NYSE:CE) last announced its quarterly earnings data 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 net margin of 10.40% and a return on equity of 13.23%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts expect that Celanese will post 10.24 earnings per share for the current year.

Celanese Announces Dividend

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

Insider Buying and Selling at Celanese

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 69,754 shares of the company’s stock, valued at approximately $9,033,840.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

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.