Celanese (NYSE:CE) Announces Quarterly Earnings Results, Misses Estimates By $0.33 EPS

Celanese (NYSE:CE) released its earnings results on Thursday. The basic materials company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.33), Briefing.com reports. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.76 billion. Celanese had a return on equity of 13.73% and a net margin of 18.24%. Celanese’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 EPS.

Celanese Stock Performance

NYSE:CE opened at $131.55 on Monday. The stock’s 50-day simple moving average is $140.61 and its 200 day simple moving average is $150.28. Celanese has a twelve month low of $110.76 and a twelve month high of $172.16. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $14.37 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 0.59 and a beta of 1.30.

Celanese Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Tuesday, July 30th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, July 30th. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. Celanese’s dividend payout ratio is 15.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CE shares. Piper Sandler upped their target price on shares of Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Royal Bank of Canada upped their price objective on shares of Celanese from $171.00 to $176.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Mizuho lifted their target price on Celanese from $161.00 to $173.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. UBS Group lowered their price target on Celanese from $193.00 to $184.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $158.00 price target on shares of Celanese in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Celanese has an average rating of “Hold” and an average target price of $158.88.

About Celanese

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.