Celanese (NYSE:CE) Releases FY19 Earnings Guidance

Celanese (NYSE:CE) issued an update on its FY19 earnings guidance on Monday morning. 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 2019 guidance to $9.60-9.80 EPS.

Shares of Celanese stock traded down $0.34 during trading hours on Monday, hitting $121.31. 990,483 shares of the company’s stock traded hands, compared to its average volume of 1,026,852. Celanese has a 12-month low of $82.91 and a 12-month high of $127.15. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.72 and a beta of 1.36. The company has a fifty day simple moving average of $120.78 and a 200-day simple moving average of $109.45. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.04 and a quick ratio of 1.32.

Celanese (NYSE:CE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.02. Celanese had a return on equity of 38.56% and a net margin of 15.52%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the firm posted $2.90 EPS. The business’s revenue was down 13.7% compared to the same quarter last year. On average, analysts forecast that Celanese will post 10.08 EPS for the current fiscal year.

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

CE has been the subject of several research reports. Wells Fargo & Co initiated coverage on Celanese in a research note on Tuesday, October 15th. They set an outperform rating and a $140.00 price target for the company. Bank of America initiated coverage on Celanese in a research note on Thursday, September 26th. They set an underperform rating and a $110.00 price target for the company. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded Celanese from a neutral rating to an overweight rating and increased their price target for the stock from $102.00 to $120.00 in a research note on Wednesday, July 24th. UBS Group increased their price target on Celanese from $128.00 to $138.00 and gave the stock a buy rating in a research note on Wednesday, October 2nd. Finally, Nomura cut their price target on Celanese from $107.00 to $105.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Celanese presently has a consensus 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.

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Earnings History and Estimates for Celanese (NYSE:CE)

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