Celanese (NYSE:CE) Announces Quarterly Earnings Results, Misses Estimates By $0.41 EPS

05 Nov 2024, 20:14 by Kim Johansen · The Markets Daily

Celanese (NYSE:CE – Get Free Report) posted 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. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a net margin of 18.24% and a return on equity of 13.60%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 earnings per share. Celanese updated its Q4 guidance to $1.25 EPS and its Q4 2024 guidance to 1.250-1.250 EPS.

Celanese Stock Performance

CE stock traded down $30.58 during trading on Tuesday, reaching $92.92. The stock had a trading volume of 7,224,806 shares, compared to its average volume of 805,025. The stock’s 50 day moving average is $129.58 and its two-hundred day moving average is $138.25. Celanese has a 52 week low of $91.83 and a 52 week high of $172.16. 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 firm has a market cap of $10.15 billion, a PE ratio of 5.30, a PEG ratio of 0.72 and a beta of 1.31.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. Celanese’s dividend payout ratio (DPR) is currently 15.94%.

Insider Buying and Selling at Celanese

In related news, COO Scott A. Richardson sold 4,675 shares of the stock in a transaction dated 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 approximately $9,033,840.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Celanese from $170.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Celanese from $160.00 to $135.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada dropped their price target on Celanese from $167.00 to $163.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. KeyCorp lowered Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Finally, Vertical Research lowered Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $145.00.

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Celanese Company Profile

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