Celanese (CE) Set to Announce Earnings on Monday

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

Celanese (NYSE:CE) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $2.38 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the company earned $2.17 EPS. The firm’s revenue for the quarter 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 Stock Down 0.9 %

CE opened at $124.81 on Friday. Celanese has a twelve month low of $114.05 and a twelve month high of $172.16. The company has a quick ratio of 0.74, a current ratio of 1.28 and a debt-to-equity ratio of 1.45. The company has a 50-day moving average price of $129.89 and a 200 day moving average price of $138.91. The company has a market cap of $13.64 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 0.74 and a beta of 1.30.

Celanese Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on CE shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Celanese from $160.00 to $135.00 and set a “hold” rating for the company in a report on Monday, August 12th. KeyCorp downgraded shares of Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Piper Sandler downgraded shares of Celanese from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $180.00 to $150.00 in a report on Thursday, September 5th. BMO Capital Markets cut their price objective on shares of Celanese from $142.00 to $138.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised shares of Celanese from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $156.00 to $130.00 in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $151.44.

Insider Buying and Selling

In related news, COO Scott A. Richardson sold 4,675 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Celanese Company Profile

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.