Celanese (NYSE:CE) Announces Earnings Results

Celanese (NYSE:CE) issued its quarterly earnings results on Monday. The basic materials company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41), Briefing.com reports. Celanese had a net margin of 18.24% and a return on equity of 13.60%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the company earned $2.50 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Celanese updated its Q4 guidance to $1.25 EPS and its Q4 2024 guidance to 1.250-1.250 EPS.

Celanese Stock Down 24.9 %

Celanese stock traded down $30.71 during trading on Tuesday, hitting $92.79. 7,033,242 shares of the company were exchanged, compared to its average volume of 804,130. The company has a current ratio of 1.28, a quick ratio of 0.74 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $10.14 billion, a P/E ratio of 5.30, a PEG ratio of 0.72 and a beta of 1.31. The business’s 50 day moving average is $129.58 and its 200 day moving average is $138.25. Celanese has a 52 week low of $91.83 and a 52 week high of $172.16.

Celanese Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors 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 currently 15.94%.

Analyst Ratings Changes

A number of research firms have recently commented on CE. KeyCorp lowered shares of Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Robert W. Baird reduced their price objective on Celanese from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada reduced their target price on shares of Celanese from $167.00 to $163.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. BMO Capital Markets decreased their target price on Celanese from $142.00 to $138.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Celanese from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $165.00 to $115.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $145.00.

Insiders Place Their Bets

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