Celanese (CE) Set to Announce Earnings on Wednesday

Celanese (NYSE:CE) will be posting its quarterly earnings results 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 registering for the company’s earnings conference call can do so using this link.

Celanese (NYSE:CE) last issued its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $2.24 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Celanese had a return on equity of 14.61% and a net margin of 17.92%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period 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 Trading Up 0.5 %

Shares of CE opened at $157.17 on Monday. The business’s 50-day moving average price is $159.18 and its 200 day moving average price is $146.60. The stock has a market capitalization of $17.12 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.63 and a beta of 1.37. Celanese has a 1-year low of $99.33 and a 1-year high of $172.16. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 1.63.

Celanese Announces Dividend

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

Wall Street Analysts Forecast Growth

CE has been the subject of several research reports. Robert W. Baird lifted their price target on Celanese from $135.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Tudor, Pickering, Holt & Co. lowered Celanese from a “buy” rating to a “sell” rating and set a $140.00 price target for the company. in a report on Thursday, February 22nd. Royal Bank of Canada boosted their target price on Celanese from $165.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Citigroup boosted their target price on Celanese from $150.00 to $167.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Finally, StockNews.com upgraded Celanese from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.56.

Insiders Place Their Bets

In other Celanese news, SVP Mark Christopher Murray purchased 597 shares of the company’s stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $156.43 per share, with a total value of $93,388.71. Following the transaction, the senior vice president now directly owns 11,600 shares in the company, valued at approximately $1,814,588. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Mark Christopher Murray acquired 597 shares of the stock in a transaction dated Friday, March 8th. The shares were 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 owns 11,600 shares in the company, valued at approximately $1,814,588. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Thomas Francis Kelly acquired 1,400 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $156.69 per share, for a total transaction of $219,366.00. Following the completion of the transaction, the senior vice president now owns 57,023 shares of the company’s stock, valued at approximately $8,934,933.87. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

About Celanese

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.