Celanese (CE) Issues FY 2018 Earnings Guidance

Celanese (NYSE:CE) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $10.90-11.10 for the period, compared to the Thomson Reuters consensus estimate of $10.75.

Shares of NYSE:CE traded down $2.58 during mid-day trading on Thursday, hitting $97.17. The stock had a trading volume of 2,185,735 shares, compared to its average volume of 891,052. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.39 and a current ratio of 1.96. The company has a market cap of $15.39 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30. Celanese has a 12-month low of $95.45 and a 12-month high of $119.29.

Celanese (NYSE:CE) last issued its quarterly earnings results on Thursday, July 19th. The basic materials company reported $2.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.50. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Celanese had a net margin of 16.57% and a return on equity of 37.74%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 EPS. On average, equities analysts predict that Celanese will post 10.57 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Monday, October 29th will be given a $0.54 dividend. The ex-dividend date is Friday, October 26th. This represents a $2.16 annualized dividend and a dividend yield of 2.22%. Celanese’s dividend payout ratio (DPR) is presently 28.76%.

Several research firms have weighed in on CE. Citigroup upped their price objective on shares of Celanese from $130.00 to $131.00 and gave the company a buy rating in a research note on Wednesday, July 11th. Nomura upped their price objective on shares of Celanese from $111.00 to $120.00 and gave the company a neutral rating in a research note on Wednesday, July 11th. Royal Bank of Canada reiterated a buy rating and issued a $134.00 price objective on shares of Celanese in a research note on Friday, July 13th. KeyCorp upped their price objective on shares of Celanese from $141.00 to $145.00 and gave the company a $113.06 rating in a research note on Monday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Celanese from $110.00 to $114.00 and gave the company a $113.06 rating in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Celanese has a consensus rating of Buy and an average price target of $124.29.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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Earnings History and Estimates for Celanese (NYSE:CE)

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