Celanese (CE) Set to Announce Quarterly Earnings on Monday

Celanese (NYSE:CE) is set 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. Parties that are interested in participating in 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 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 business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the company posted $2.17 earnings per share. 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 Trading Down 0.7 %

NYSE CE opened at $128.87 on Monday. The firm has a market capitalization of $14.08 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.70 and a beta of 1.30. Celanese has a one year low of $110.76 and a one year high of $172.16. The company has a 50-day simple moving average of $130.06 and a 200-day simple moving average of $139.51. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders 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 yield of 2.17%. Celanese’s payout ratio is currently 15.41%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CE. KeyCorp downgraded Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. BMO Capital Markets reduced their price target 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. Wells Fargo & Company lowered their price target on shares of Celanese from $180.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Barclays reduced their target price on shares of Celanese from $170.00 to $151.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Finally, Piper Sandler cut shares of Celanese from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $180.00 to $150.00 in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Celanese has an average rating of “Hold” and a consensus price target of $152.87.

Insider Buying and Selling

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the company’s 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 sale, the chief operating officer now directly owns 69,754 shares of the company’s stock, valued at approximately $9,033,840.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

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.