Celanese Co. (NYSE:CE – Free Report) – Investment analysts at KeyCorp decreased their Q3 2023 earnings per share estimates for shares of Celanese in a research report issued on Tuesday, September 5th. KeyCorp analyst A. Yefremov now forecasts that the basic materials company will post earnings per share of $2.02 for the quarter, down from their previous forecast of $2.19. The consensus estimate for Celanese’s current full-year earnings is $9.11 per share. KeyCorp also issued estimates for Celanese’s Q4 2023 earnings at $2.25 EPS, FY2023 earnings at $8.46 EPS and FY2024 earnings at $12.85 EPS.
Celanese (NYSE:CE – Get Free Report) last released its quarterly earnings results on Monday, August 7th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.29). The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.96 billion. Celanese had a net margin of 12.32% and a return on equity of 17.68%. Celanese’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.99 EPS.
Celanese Stock Down 1.1 %
CE stock traded down $1.42 during mid-day trading on Thursday, reaching $125.51. 104,959 shares of the company traded hands, compared to its average volume of 1,243,650. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 4.52 and a beta of 1.32. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 2.12. The firm’s 50 day moving average price is $121.69 and its 200 day moving average price is $113.43. Celanese has a fifty-two week low of $86.71 and a fifty-two week high of $129.27.
Hedge Funds Weigh In On Celanese
Several hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its stake in shares of Celanese by 92.6% during the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock valued at $25,000 after buying an additional 87 shares during the period. Kistler Tiffany Companies LLC increased its stake in shares of Celanese by 2.4% during the second quarter. Kistler Tiffany Companies LLC now owns 3,820 shares of the basic materials company’s stock valued at $442,000 after buying an additional 89 shares during the period. Captrust Financial Advisors boosted its position in shares of Celanese by 2.9% during the fourth quarter. Captrust Financial Advisors now owns 3,152 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 90 shares in the last quarter. Horizon Investments LLC boosted its holdings in Celanese by 6.9% in the second quarter. Horizon Investments LLC now owns 1,504 shares of the basic materials company’s stock worth $174,000 after acquiring an additional 97 shares in the last quarter. Finally, First Commonwealth Financial Corp PA boosted its holdings in Celanese by 2.9% in the first quarter. First Commonwealth Financial Corp PA now owns 3,424 shares of the basic materials company’s stock worth $489,000 after acquiring an additional 97 shares in the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.
Celanese Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $2.80 dividend on an annualized basis and a yield of 2.23%. Celanese’s dividend payout ratio (DPR) is currently 24.10%.
Celanese Company Profile
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company 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.
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