Celanese (NYSE:CE) Posts Earnings Results

Celanese (NYSE:CE) issued its quarterly earnings data on Monday. The basic materials company reported $2.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.03, Bloomberg Earnings reports. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Celanese had a return on equity of 38.56% and a net margin of 15.52%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the business earned $2.96 earnings per share.

Shares of CE traded down $2.85 during trading hours on Tuesday, reaching $118.46. 500,669 shares of the company traded hands, compared to its average volume of 780,360. The stock has a market capitalization of $14.64 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.71 and a beta of 1.36. The company has a quick ratio of 1.32, a current ratio of 2.04 and a debt-to-equity ratio of 1.12. Celanese has a 12-month low of $82.91 and a 12-month high of $127.15. The business has a fifty day moving average price of $120.78 and a 200-day moving average price of $109.45.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, October 25th. Celanese’s dividend payout ratio (DPR) is presently 22.55%.

A number of brokerages have recently weighed in on CE. Vertical Research lowered Celanese from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Bank of America started coverage on Celanese in a research report on Thursday, September 26th. They issued an “underperform” rating and a $110.00 price objective for the company. They noted that the move was a valuation call. ValuEngine lowered Celanese from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. UBS Group boosted their target price on Celanese from $128.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co initiated coverage on Celanese in a research report on Tuesday, October 15th. They set an “outperform” rating and a $140.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. Celanese has an average rating of “Hold” and a consensus target price 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.

Read More: Dogs of the Dow

Earnings History 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.