Celanese (CE) Set to Announce Earnings on Monday

Celanese (NYSE:CE) is scheduled to announce its earnings results after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $2.88 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Celanese (NYSE:CE) last issued its earnings results on Thursday, August 1st. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.33). Celanese had a net margin of 18.24% and a return on equity of 13.60%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the company posted $2.17 EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, analysts expect Celanese to post $10 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Celanese Trading Down 0.9 %

Shares of Celanese stock opened at $124.81 on Friday. The company has a fifty day simple moving average of $129.89 and a 200-day simple moving average of $138.91. Celanese has a 12-month low of $114.05 and a 12-month 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 stock has a market cap of $13.64 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 0.74 and a beta of 1.30.

Celanese Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, October 30th. Celanese’s payout ratio is 15.94%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CE shares. Robert W. Baird lowered their target price on shares of Celanese from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Piper Sandler downgraded shares of Celanese from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $150.00 in a research report on Thursday, September 5th. Royal Bank of Canada reduced their price target on shares of Celanese from $167.00 to $163.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Celanese from $160.00 to $135.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, KeyCorp downgraded shares of Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $151.44.

Insider Transactions at Celanese

In other news, COO Scott A. Richardson sold 4,675 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $129.51, for a total transaction of $605,459.25. Following the transaction, the chief operating officer now directly owns 69,754 shares of the company’s stock, valued at $9,033,840.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.