If it is possible to figure out pronunciation of Chinese text
"If you have a Chinese text, i.e. just the characters and no Pinyin or anything, I'm wondering if it's possible to figure out the meaning of the text."

You would have some problem in there, because the translation of the characters alone aren't exactly the same as those when they appear together. A simple example:


  他姐妹是中国人。


If you just pick each character from a dictionary, you would get a translation like:


  He [elder sister] [younger sister] be middle country person.


What meaning could you extract from that? I don't think nothing much close from the original one, which should be:


  His sister is Chinese.


Since Chinese has no blank space in between words, it's hard to know when you are a beginer where the words start and finish. To start trying to understand the sentence above, you should first know that the words are:


  [他][姐妹][是][中国][人]。


Another problem is that many characters have more than one meaning. Taking my first example, if you didn't know that 中国 was a word itself and tried to find 中 alone, you could find 中 with the meanings "middle, to hit, China, etc.", making it more difficult to choose the correct one.

So, the answer to your question is: yes, it is possible, but you will have a hard time with it.