Celanese (NYSE:CE) Releases Q2 Earnings Guidance

Celanese (NYSE:CEGet Rating) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of approx $4.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.16. Celanese also updated its FY22 guidance to approach $18.12 EPS.

CE traded up $4.01 during trading on Friday, hitting $146.94. 1,766,911 shares of the company’s stock traded hands, compared to its average volume of 737,598. The company’s 50 day simple moving average is $142.32 and its two-hundred day simple moving average is $155.83. The company has a current ratio of 1.52, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70. Celanese has a 12-month low of $132.26 and a 12-month high of $176.50. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 7.85 and a beta of 1.30.

Celanese (NYSE:CEGet Rating) last issued its earnings results on Thursday, April 28th. The basic materials company reported $5.54 EPS for the quarter, beating the consensus estimate of $4.48 by $1.06. Celanese had a return on equity of 48.17% and a net margin of 22.14%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the business posted $3.46 EPS. The company’s revenue was up 41.2% compared to the same quarter last year. On average, equities analysts expect that Celanese will post 15.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Shareholders of record on Thursday, April 28th will be paid a dividend of $0.68 per share. The ex-dividend date 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%.

CE has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Celanese from $210.00 to $200.00 and set an overweight rating on the stock in a research note on Tuesday, February 1st. StockNews.com upgraded Celanese from a hold rating to a buy rating in a research note on Thursday, March 24th. Piper Sandler downgraded Celanese from a neutral rating to an underweight rating and dropped their price target for the stock from $180.00 to $140.00 in a research note on Tuesday, February 22nd. Morgan Stanley raised their price target on Celanese from $157.00 to $172.00 and gave the stock an equal weight rating in a research note on Tuesday, January 11th. Finally, Bank of America raised their price target on Celanese from $165.00 to $174.00 and gave the stock a neutral rating in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $187.50.

In other news, SVP Thomas Francis Kelly bought 1,800 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The shares were bought at an average cost of $141.74 per share, for a total transaction of $255,132.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. NEXT Financial Group Inc increased its stake in Celanese by 39.1% during the fourth quarter. NEXT Financial Group Inc now owns 363 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 102 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Celanese by 1.6% during the fourth quarter. Glenmede Trust Co. NA now owns 8,653 shares of the basic materials company’s stock worth $1,453,000 after acquiring an additional 138 shares during the last quarter. Horizon Investments LLC increased its stake in Celanese by 11.0% during the fourth quarter. Horizon Investments LLC now owns 2,949 shares of the basic materials company’s stock worth $496,000 after acquiring an additional 293 shares during the last quarter. Metropolitan Life Insurance Co NY increased its stake in Celanese by 4.6% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 14,192 shares of the basic materials company’s stock worth $2,385,000 after acquiring an additional 622 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Celanese by 5.3% during the fourth quarter. Advisors Asset Management Inc. now owns 17,563 shares of the basic materials company’s stock valued at $2,952,000 after buying an additional 884 shares during the last quarter. 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.

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Earnings History and Estimates for Celanese (NYSE:CE)

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