FY2022 EPS Estimates for Celanese Co. Decreased by Analyst (NYSE:CE)

Celanese Co. (NYSE:CEGet Rating) – Stock analysts at Zacks Research decreased their FY2022 EPS estimates for Celanese in a report released on Wednesday, November 16th. Zacks Research analyst A. Barman now expects that the basic materials company will post earnings per share of $15.98 for the year, down from their previous forecast of $18.08. The consensus estimate for Celanese’s current full-year earnings is $16.08 per share. Zacks Research also issued estimates for Celanese’s Q4 2022 earnings at $1.51 EPS, Q1 2023 earnings at $2.13 EPS, Q2 2023 earnings at $3.26 EPS, Q4 2023 earnings at $0.64 EPS, FY2023 earnings at $10.13 EPS, Q1 2024 earnings at $3.44 EPS, Q2 2024 earnings at $4.18 EPS, Q3 2024 earnings at $4.29 EPS and FY2024 earnings at $13.51 EPS.

Several other equities research analysts have also issued reports on CE. UBS Group reduced their target price on shares of Celanese from $166.00 to $163.00 and set a “buy” rating for the company in a report on Friday, July 29th. Citigroup cut their price target on Celanese from $102.00 to $96.00 and set a “neutral” rating on the stock in a research note on Sunday, November 6th. Credit Suisse Group dropped their price target on Celanese from $86.00 to $83.00 and set an “underperform” rating on the stock in a research note on Friday, November 4th. Mizuho decreased their target price on Celanese from $116.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, November 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Celanese from $100.00 to $98.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Celanese has an average rating of “Hold” and an average target price of $117.86.

Celanese Stock Up 1.9 %

NYSE:CE opened at $101.23 on Monday. The company has a market capitalization of $10.98 billion, a PE ratio of 6.69 and a beta of 1.25. The firm’s 50-day moving average price is $96.41 and its 200-day moving average price is $115.80. Celanese has a 1-year low of $86.71 and a 1-year high of $176.50. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.73 and a quick ratio of 4.11.

Celanese (NYSE:CEGet Rating) last announced its quarterly earnings data on Friday, November 4th. The basic materials company reported $3.94 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.04). Celanese had a return on equity of 42.26% and a net margin of 17.20%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $4.82 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year.

Institutional Trading of Celanese

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CE. M&T Bank Corp raised its stake in Celanese by 3.4% in the third quarter. M&T Bank Corp now owns 98,198 shares of the basic materials company’s stock valued at $8,871,000 after buying an additional 3,220 shares during the period. Captrust Financial Advisors increased its stake in Celanese by 7.0% in the third quarter. Captrust Financial Advisors now owns 3,062 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 201 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in Celanese by 176.7% in the third quarter. Balyasny Asset Management LLC now owns 24,682 shares of the basic materials company’s stock worth $2,230,000 after buying an additional 15,763 shares during the period. Baird Financial Group Inc. increased its position in shares of Celanese by 7.1% during the third quarter. Baird Financial Group Inc. now owns 211,645 shares of the basic materials company’s stock valued at $19,120,000 after acquiring an additional 14,035 shares in the last quarter. Finally, Drive Wealth Management LLC purchased a new position in shares of Celanese during the 3rd quarter worth $388,000. Institutional investors and hedge funds own 93.34% of the company’s stock.

Celanese Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were given a $0.70 dividend. This is a positive change from Celanese’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, October 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.77%. Celanese’s dividend payout ratio (DPR) is 18.51%.

Celanese Company Profile

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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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