Celanese (NYSE:CE) Releases FY 2019 Earnings Guidance

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Celanese (NYSE:CE) updated its FY 2019 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $9.60-9.80 for the period, compared to the Thomson Reuters consensus estimate of $10.14. Celanese also updated its FY 2020 guidance to $11.00-12.00 EPS.

Shares of Celanese stock opened at $121.31 on Tuesday. The stock has a fifty day simple moving average of $120.78 and a 200 day simple moving average of $109.45. Celanese has a 12-month low of $82.91 and a 12-month high of $127.15. The company has a market capitalization of $15.05 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.36. The company has a current ratio of 2.04, a quick ratio of 1.32 and a debt-to-equity ratio of 1.12.

Celanese (NYSE:CE) last announced its earnings results on Monday, October 21st. The basic materials company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.03. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.64 billion. Celanese had a return on equity of 38.56% and a net margin of 15.52%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.96 EPS. On average, analysts predict that Celanese will post 10.08 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Monday, October 28th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, October 25th. This represents a $2.48 annualized dividend and a yield of 2.04%. Celanese’s dividend payout ratio (DPR) is presently 22.55%.

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Celanese from $115.00 to $120.00 and gave the stock a market perform rating in a research report on Wednesday, July 24th. KeyCorp reduced their price target on shares of Celanese from $125.00 to $124.00 and set an overweight rating for the company in a research report on Tuesday, July 9th. Bank of America began coverage on shares of Celanese in a research report on Thursday, September 26th. They issued an underperform rating and a $110.00 price target for the company. They noted that the move was a valuation call. UBS Group boosted their price target on shares of Celanese from $128.00 to $138.00 and gave the company a buy rating in a research report on Wednesday, October 2nd. Finally, Citigroup set a $122.00 price objective on shares of Celanese and gave the company a buy rating in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $120.11.

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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