Brokers Offer Predictions for Celanese Co.’s FY2023 Earnings (NYSE:CE)

Celanese Co. (NYSE:CEGet Rating) – Equities research analysts at Scotiabank upped their FY2023 earnings per share (EPS) estimates for shares of Celanese in a report released on Tuesday, August 2nd. Scotiabank analyst B. Isaacson now expects that the basic materials company will post earnings of $16.91 per share for the year, up from their prior forecast of $15.77. The consensus estimate for Celanese’s current full-year earnings is $18.00 per share.

A number of other equities research analysts have also recently issued reports on the company. Credit Suisse Group started coverage on Celanese in a research note on Monday, June 27th. They issued an “underperform” rating and a $105.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on Celanese from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday. Piper Sandler boosted their price objective on Celanese from $140.00 to $145.00 and gave the company an “underweight” rating in a research note on Wednesday, May 18th. Barclays lowered their price objective on Celanese from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, StockNews.com lowered Celanese from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $161.80.

Celanese Trading Down 0.1 %

Shares of Celanese stock opened at $110.85 on Friday. Celanese has a 52-week low of $104.74 and a 52-week high of $176.50. The stock’s 50-day simple moving average is $125.30 and its 200 day simple moving average is $139.83. The stock has a market capitalization of $12.01 billion, a P/E ratio of 6.18 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.72.

Celanese (NYSE:CEGet Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $4.99 EPS for the quarter, topping analysts’ consensus estimates of $4.56 by $0.43. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Celanese had a return on equity of 46.75% and a net margin of 20.55%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.02 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CE. Yousif Capital Management LLC purchased a new position in shares of Celanese during the fourth quarter worth about $2,291,000. CWM LLC purchased a new stake in Celanese in the fourth quarter worth approximately $242,000. Qube Research & Technologies Ltd purchased a new stake in Celanese in the fourth quarter worth approximately $5,462,000. Assenagon Asset Management S.A. purchased a new stake in Celanese in the fourth quarter worth approximately $5,254,000. Finally, FDx Advisors Inc. boosted its stake in Celanese by 12.8% in the fourth quarter. FDx Advisors Inc. now owns 4,469 shares of the basic materials company’s stock worth $751,000 after buying an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.

Celanese Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Monday, July 25th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, July 22nd. Celanese’s payout ratio is 15.16%.

About Celanese

(Get Rating)

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 three segments: Engineered Materials, Acetate Tow, 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.

See Also

Earnings History and Estimates for Celanese (NYSE:CE)

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