Celanese (NYSE:CE) Issues Earnings Results, Beats Expectations By $1.06 EPS

Celanese (NYSE:CEGet Rating) released its quarterly earnings data on Thursday. The basic materials company reported $5.54 EPS for the quarter, beating analysts’ consensus estimates of $4.48 by $1.06, MarketWatch Earnings reports. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a return on equity of 48.17% and a net margin of 22.14%. The firm’s revenue was up 41.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.46 earnings per share. Celanese updated its Q2 guidance to approx $4.50 EPS and its FY22 guidance to approach $18.12 EPS.

NYSE:CE opened at $146.94 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.52 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $142.32 and its two-hundred day moving average price is $155.83. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of 7.85 and a beta of 1.30. Celanese has a 12-month low of $132.26 and a 12-month high of $176.50.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 12th. Shareholders of record on Thursday, April 28th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, April 27th. This represents a $2.72 annualized dividend and a yield of 1.85%. Celanese’s dividend payout ratio is 14.52%.

A number of equities research analysts recently commented on CE shares. Piper Sandler downgraded Celanese from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $180.00 to $140.00 in a report on Tuesday, February 22nd. Bank of America upped their price objective on Celanese from $165.00 to $174.00 and gave the company a “neutral” rating in a report on Monday, April 18th. StockNews.com upgraded Celanese from a “hold” rating to a “buy” rating in a report on Thursday, March 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $175.00 price target (down from $185.00) on shares of Celanese in a report on Sunday, February 20th. Finally, Royal Bank of Canada increased their price target on Celanese from $198.00 to $206.00 and gave the stock an “outperform” rating in a report on Tuesday, February 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $187.50.

In other Celanese news, SVP Thomas Francis Kelly acquired 1,800 shares of the company’s stock in a transaction on Friday, February 25th. The shares were purchased at an average price of $141.74 per share, for a total transaction of $255,132.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CE. NEXT Financial Group Inc boosted its holdings in shares of Celanese by 39.1% in the 4th quarter. NEXT Financial Group Inc now owns 363 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 102 shares in the last quarter. Wealthsource Partners LLC acquired a new position in Celanese during the 4th quarter worth about $203,000. Sequoia Financial Advisors LLC acquired a new position in Celanese during the 4th quarter worth about $222,000. Forum Financial Management LP bought a new position in shares of Celanese in the 4th quarter worth about $248,000. Finally, Toroso Investments LLC bought a new position in shares of Celanese in the 4th quarter worth about $470,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Celanese Company Profile (Get Rating)

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through three segments: Engineered Materials, Acetate Tow, 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.

See Also

Earnings History for Celanese (NYSE:CE)

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