Celanese (NYSE:CE) Issues FY 2021 Earnings Guidance

Celanese (NYSE:CE) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $16.500-$17.000 for the period, compared to the Thomson Reuters consensus EPS estimate of $13.590. The company issued revenue guidance of -.Celanese also updated its Q3 2021 guidance to $4.500-$4.750 EPS.

Shares of Celanese stock traded down $2.59 on Thursday, reaching $148.88. 877,494 shares of the stock were exchanged, compared to its average volume of 813,560. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.92 and a quick ratio of 1.39. Celanese has a twelve month low of $92.11 and a twelve month high of $171.00. The company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 0.53 and a beta of 1.22. The company has a 50 day simple moving average of $157.54.

Celanese (NYSE:CE) last released its earnings results on Wednesday, April 21st. The basic materials company reported $3.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.96 by $0.50. Celanese had a return on equity of 30.19% and a net margin of 34.86%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. On average, research analysts predict that Celanese will post 13.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 9th. Shareholders of record on Monday, July 26th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Friday, July 23rd. Celanese’s payout ratio is presently 35.60%.

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised Celanese from a hold rating to a buy rating and boosted their price target for the company from $168.00 to $175.00 in a report on Thursday, July 1st. Jefferies Financial Group reissued a buy rating on shares of Celanese in a report on Tuesday, April 6th. Wolfe Research assumed coverage on Celanese in a report on Wednesday, June 9th. They issued an outperform rating for the company. The Goldman Sachs Group downgraded Celanese from a buy rating to a neutral rating and set a $184.00 target price for the company. in a research note on Wednesday, June 9th. Finally, BMO Capital Markets upped their target price on Celanese from $171.00 to $175.00 and gave the stock an outperform rating in a research note on Monday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $159.71.

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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