Celanese (NYSE:CE – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 10.250-10.750 for the period, compared to the consensus earnings per share estimate of 11.110. The company issued revenue guidance of -. Celanese also updated its FY24 guidance to $10.25-10.75 EPS.
Analysts Set New Price Targets
Several brokerages recently weighed in on CE. Royal Bank of Canada lifted their price target on Celanese from $171.00 to $176.00 and gave the company an outperform rating in a research note on Monday, May 13th. Robert W. Baird lifted their price objective on Celanese from $165.00 to $180.00 and gave the stock an outperform rating in a report on Friday, May 10th. BMO Capital Markets reiterated a market perform rating and issued a $158.00 price objective on shares of Celanese in a report on Tuesday, June 11th. Piper Sandler lifted their price objective on Celanese from $170.00 to $180.00 and gave the stock an overweight rating in a report on Friday, May 17th. Finally, UBS Group lowered their price objective on Celanese from $193.00 to $184.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $162.75.
Read Our Latest Analysis on CE
Celanese Stock Down 4.4 %
Celanese (NYSE:CE – Get Free Report) last issued its earnings results on Thursday, August 1st. The basic materials company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.42). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.76 billion. Celanese had a return on equity of 13.73% and a net margin of 18.24%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 EPS. As a group, equities research analysts forecast that Celanese will post 11.26 earnings per share for the current year.
Celanese Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Tuesday, July 30th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $2.80 annualized dividend and a yield of 2.13%. Celanese’s dividend payout ratio is presently 15.41%.
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.
See Also
- Five stocks we like better than Celanese
- Why Invest in High-Yield Dividend Stocks?
- Market Crash? No Problem for DoorDash Stock’s Impressive Earnings
- How to Effectively Use the MarketBeat Ratings Screener
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- Short Selling: How to Short a Stock
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.