Celanese (CE) Set to Announce Earnings on Wednesday

Celanese (NYSE:CE) is scheduled to be releasing its earnings data after the market closes on Wednesday, May 8th. Analysts expect Celanese to post earnings of $1.92 per share for the quarter. Celanese has set its Q1 guidance at $1.75-2.00 EPS and its Q1 2024 guidance at 1.750-2.000 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Celanese (NYSE:CE) last released its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.05). The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.59 billion. Celanese had a net margin of 17.92% and a return on equity of 14.61%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 EPS. On average, analysts expect Celanese to post $11 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Celanese Stock Up 0.5 %

CE stock opened at $157.17 on Monday. The firm has a market cap of $17.12 billion, a PE ratio of 8.78, a P/E/G ratio of 0.63 and a beta of 1.37. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.95 and a current ratio of 1.53. The firm’s fifty day moving average is $159.18 and its 200 day moving average is $146.60. Celanese has a one year low of $99.33 and a one year high of $172.16.

Celanese Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 29th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $2.80 annualized dividend and a yield of 1.78%. Celanese’s dividend payout ratio is presently 15.64%.

Insider Buying and Selling at Celanese

In related news, SVP Mark Christopher Murray purchased 597 shares of the company’s stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $156.43 per share, for a total transaction of $93,388.71. Following the completion of the transaction, the senior vice president now directly owns 11,600 shares in the company, valued at $1,814,588. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Scott A. Richardson sold 2,000 shares of Celanese stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the transaction, the chief operating officer now owns 76,429 shares in the company, valued at $11,987,888.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark Christopher Murray acquired 597 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average price of $156.43 per share, with a total value of $93,388.71. Following the acquisition, the senior vice president now directly owns 11,600 shares of the company’s stock, valued at approximately $1,814,588. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CE has been the topic of several recent analyst reports. KeyCorp increased their price objective on shares of Celanese from $176.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Royal Bank of Canada increased their price objective on shares of Celanese from $165.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Barclays downgraded shares of Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 price objective on the stock. in a report on Thursday, April 4th. Tudor, Pickering, Holt & Co. downgraded shares of Celanese from a “buy” rating to a “sell” rating and set a $140.00 price target on the stock. in a research note on Thursday, February 22nd. Finally, Bank of America downgraded shares of Celanese from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $124.00 to $135.00 in a research note on Tuesday, January 16th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $149.56.

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.