Celanese (NYSE:CE) Updates FY19 Earnings Guidance

Celanese (NYSE:CE) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share guidance of $9.60-9.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $10.14. Celanese also updated its FY 2019 guidance to $9.60-9.80 EPS.

CE traded down $0.34 during mid-day trading on Monday, reaching $121.31. 990,483 shares of the stock were exchanged, compared to its average volume of 1,026,852. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.32 and a current ratio of 2.04. The stock has a market capitalization of $15.05 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.36. The company has a 50 day moving average price of $120.78 and a two-hundred day moving average price of $109.45. Celanese has a 1 year low of $82.91 and a 1 year high of $127.15.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.02. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.64 billion. Celanese had a net margin of 15.52% and a return on equity of 38.56%. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. Sell-side analysts expect that Celanese will post 10.08 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Monday, October 28th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, October 25th. Celanese’s dividend payout ratio is currently 22.55%.

CE has been the topic of a number of research reports. ValuEngine cut Celanese from a hold rating to a sell rating in a research report on Wednesday, October 2nd. BMO Capital Markets upped their price target on Celanese from $115.00 to $120.00 and gave the company a market perform rating in a research report on Wednesday, July 24th. Wells Fargo & Co started coverage on Celanese in a research report on Tuesday, October 15th. They set an outperform rating and a $140.00 price target on the stock. JPMorgan Chase & Co. upgraded Celanese from a neutral rating to an overweight rating and upped their price target for the company from $102.00 to $120.00 in a research report on Wednesday, July 24th. Finally, Cowen reiterated a market perform rating and set a $110.00 price target (up from $105.00) on shares of Celanese in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $120.11.

About Celanese

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.

Featured Story: Book Value Per Share – BVPS

Earnings History and Estimates for Celanese (NYSE:CE)

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.