Research Analysts Issue Forecasts for Celanese Co.’s Q3 2024 Earnings (NYSE:CE)

Celanese Co. (NYSE:CE) – Stock analysts at KeyCorp issued their Q3 2024 EPS estimates for Celanese in a report released on Sunday, October 6th. KeyCorp analyst A. Yefremov forecasts that the basic materials company will post earnings per share of $2.71 for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Celanese’s current full-year earnings is $10.42 per share. KeyCorp also issued estimates for Celanese’s Q4 2024 earnings at $2.71 EPS, FY2024 earnings at $9.89 EPS, Q3 2025 earnings at $3.18 EPS and FY2025 earnings at $12.10 EPS.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada decreased their target price on shares of Celanese from $168.00 to $167.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $156.00 to $130.00 in a research report on Monday, August 5th. Bank of America dropped their target price on shares of Celanese from $137.00 to $128.00 and set an “underperform” rating for the company in a report on Monday, August 12th. Citigroup decreased their price target on Celanese from $167.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Piper Sandler lowered Celanese from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $180.00 to $150.00 in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $153.13.

Celanese Stock Up 3.0 %

CE stock opened at $133.25 on Wednesday. The business’s 50-day moving average price is $128.81 and its 200-day moving average price is $142.57. The stock has a market cap of $14.55 billion, a P/E ratio of 7.33, a PEG ratio of 0.66 and a beta of 1.30. The company has a quick ratio of 0.74, a current ratio of 1.28 and a debt-to-equity ratio of 1.45. Celanese has a twelve month low of $110.76 and a twelve month high of $172.16.

Celanese (NYSE:CE) last announced its earnings results on Thursday, August 1st. The basic materials company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.33). Celanese had a return on equity of 13.60% and a net margin of 18.24%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the business posted $2.17 earnings per share. Celanese’s revenue for the quarter was down 5.2% compared to the same quarter last year.

Celanese Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Tuesday, July 30th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Tuesday, July 30th. Celanese’s dividend payout ratio is presently 15.41%.

Insider Activity at Celanese

In related news, COO Scott A. Richardson sold 4,675 shares of Celanese stock in a transaction dated Monday, August 19th. The stock was 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 in the company, valued at approximately $9,033,840.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by insiders.

Institutional Trading of Celanese

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in shares of Celanese in the 1st quarter worth $31,000. Fairscale Capital LLC bought a new stake in Celanese during the second quarter valued at about $28,000. LRI Investments LLC bought a new stake in Celanese during the first quarter valued at about $31,000. Key Financial Inc raised its holdings in Celanese by 3,933.3% in the second quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 236 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new position in Celanese in the first quarter worth about $49,000. 98.87% of the stock is owned by hedge funds and other institutional investors.

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.