Celanese (CE) Updates FY 2019 Earnings Guidance
Celanese (NYSE:CE) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided earnings per share guidance of $10.50-10.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $10.37. Celanese also updated its FY19 guidance to $10.50 EPS.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Celanese from a sell rating to a hold rating in a report on Tuesday, April 2nd. ValuEngine raised shares of Celanese from a sell rating to a hold rating in a report on Friday, February 22nd. BMO Capital Markets cut shares of Celanese from an outperform rating to a market perform rating and set a $107.00 target price for the company. in a report on Tuesday, January 8th. KeyCorp dropped their target price on shares of Celanese from $145.00 to $125.00 and set an overweight rating for the company in a report on Wednesday, January 30th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $120.00 target price on shares of Celanese in a report on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Celanese currently has a consensus rating of Hold and a consensus price target of $114.22.
CE stock opened at $104.47 on Tuesday. The company has a market capitalization of $13.47 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 1.01 and a beta of 1.32. Celanese has a 12 month low of $82.91 and a 12 month high of $119.29. The company has a current ratio of 1.62, a quick ratio of 1.03 and a debt-to-equity ratio of 0.88.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, April 29th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 26th. This is a positive change from Celanese’s previous quarterly dividend of $0.54. This represents a $2.48 annualized dividend and a dividend yield of 2.37%. Celanese’s dividend payout ratio is currently 19.64%.
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 Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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