Celanese (NYSE:CE) Releases FY 2019 Earnings Guidance

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Celanese (NYSE:CE) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $10.50-10.50 for the period, compared to the Thomson Reuters consensus estimate of $10.20. Celanese also updated its FY19 guidance to $10.50 EPS.

Several analysts have recently commented on CE shares. Deutsche Bank raised their price objective on shares of Texas Instruments from $100.00 to $110.00 and gave the company a hold rating in a research report on Wednesday, April 24th. Alembic Global Advisors raised shares of Celanese from an underweight rating to a neutral rating and raised their target price for the company from $95.00 to $115.00 in a research note on Monday, April 29th. BMO Capital Markets reaffirmed a market perform rating and set a C$17.00 target price on shares of Wajax in a research note on Thursday, June 20th. ValuEngine cut shares of Welbilt from a hold rating to a sell rating in a research note on Wednesday, June 12th. Finally, KeyCorp cut shares of Steris from an overweight rating to a sector weight rating in a research note on Tuesday, July 9th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Celanese has an average rating of Hold and a consensus target price of $118.00.

Shares of CE opened at $105.68 on Tuesday. Celanese has a 1-year low of $82.91 and a 1-year high of $119.29. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.85. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.05 and a beta of 1.42. The firm’s 50-day moving average is $105.04.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.36 by $0.02. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business posted $2.90 EPS. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. Equities analysts predict that Celanese will post 10.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 26th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $2.48 annualized dividend and a dividend yield of 2.35%. Celanese’s dividend payout ratio (DPR) is presently 22.55%.

In other Celanese news, Director John K. Wulff sold 9,175 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the sale, the director now owns 19,872 shares of the company’s stock, valued at approximately $2,152,535.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

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Earnings History and Estimates for Celanese (NYSE:CE)

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