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

Celanese Co. (NYSE:CE) – Equities research analysts at KeyCorp issued their Q3 2024 earnings per share (EPS) estimates for Celanese in a note issued to investors on Sunday, October 6th. KeyCorp analyst A. Yefremov anticipates 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.

Celanese (NYSE:CE) last released its quarterly earnings data 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). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.76 billion. Celanese had a net margin of 18.24% and a return on equity of 13.60%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 EPS.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. upgraded Celanese from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $156.00 to $130.00 in a report on Monday, August 5th. BMO Capital Markets reduced 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. Barclays lowered their target price on shares of Celanese from $170.00 to $151.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on Celanese from $160.00 to $135.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Robert W. Baird lowered their price objective on Celanese from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Celanese has an average rating of “Hold” and a consensus target price of $153.13.

Celanese Stock Up 1.2 %

Shares of NYSE:CE opened at $134.85 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.74 and a current ratio of 1.28. Celanese has a 52-week low of $110.76 and a 52-week high of $172.16. The business’s 50 day simple moving average is $128.76 and its two-hundred day simple moving average is $142.51. The firm has a market cap of $14.73 billion, a P/E ratio of 7.42, a PEG ratio of 0.66 and a beta of 1.30.

Celanese Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Tuesday, July 30th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, July 30th. Celanese’s payout ratio is 15.41%.

Insider Buying and Selling

In other 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Celanese by 109.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,047 shares of the basic materials company’s stock worth $4,133,000 after buying an additional 12,553 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Celanese by 14.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 122,259 shares of the basic materials company’s stock valued at $21,011,000 after purchasing an additional 15,643 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Celanese by 447.8% in the first quarter. Cetera Advisors LLC now owns 7,072 shares of the basic materials company’s stock valued at $1,215,000 after purchasing an additional 5,781 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Celanese by 41.4% during the 1st quarter. BNP Paribas Financial Markets now owns 128,423 shares of the basic materials company’s stock worth $22,071,000 after purchasing an additional 37,577 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Celanese by 264.2% during the 1st quarter. Bessemer Group Inc. now owns 19,441 shares of the basic materials company’s stock worth $3,342,000 after purchasing an additional 14,103 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

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.