Celanese (NYSE:CE) had its target price raised by Cowen from $110.00 to $120.00 in a research note released on Wednesday morning, Briefing.com Automated Import reports. They currently have a market perform rating on the basic materials company’s stock.
Several other equities research analysts have also weighed in on CE. Nomura lowered their target price on shares of Celanese from $107.00 to $105.00 and set a neutral rating on the stock in a report on Wednesday, July 24th. Alembic Global Advisors set a $115.00 target price on shares of Celanese and gave the stock a hold rating in a report on Monday, October 21st. Wells Fargo & Co started coverage on shares of Celanese in a report on Tuesday, October 15th. They issued an outperform rating and a $140.00 target price on the stock. Barclays upped their target price on shares of Celanese from $126.00 to $135.00 and gave the stock an overweight rating in a report on Wednesday, October 23rd. Finally, Bank of America started coverage on shares of Celanese in a report on Thursday, September 26th. They issued an underperform rating and a $110.00 target price on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Celanese has an average rating of Hold and a consensus price target of $121.42.
Celanese stock traded down $0.35 on Wednesday, hitting $125.96. The company’s stock had a trading volume of 544,681 shares, compared to its average volume of 800,677. The firm has a market cap of $15.27 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.85 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average price of $122.38 and a 200-day moving average price of $111.69. Celanese has a one year low of $82.91 and a one year high of $128.88.
Celanese (NYSE:CE) last posted its earnings results on Monday, October 21st. The basic materials company reported $2.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.03. Celanese had a net margin of 13.85% and a return on equity of 38.21%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $2.96 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. Analysts anticipate that Celanese will post 9.69 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were given a dividend of $0.62 per share. The ex-dividend date was Friday, October 25th. This represents a $2.48 annualized dividend and a yield of 1.97%. Celanese’s dividend payout ratio (DPR) is 22.55%.
A number of hedge funds and other institutional investors have recently modified their holdings of CE. BlackRock Inc. lifted its position in Celanese by 0.6% during the 2nd quarter. BlackRock Inc. now owns 8,891,430 shares of the basic materials company’s stock valued at $958,494,000 after purchasing an additional 54,291 shares during the period. LSV Asset Management lifted its position in Celanese by 5.9% during the 2nd quarter. LSV Asset Management now owns 2,976,134 shares of the basic materials company’s stock valued at $320,827,000 after purchasing an additional 166,620 shares during the period. Northern Trust Corp lifted its position in Celanese by 1.0% during the 2nd quarter. Northern Trust Corp now owns 1,367,407 shares of the basic materials company’s stock valued at $147,407,000 after purchasing an additional 13,817 shares during the period. Invesco Ltd. lifted its position in Celanese by 14.4% during the 2nd quarter. Invesco Ltd. now owns 1,032,296 shares of the basic materials company’s stock valued at $111,281,000 after purchasing an additional 130,196 shares during the period. Finally, Bank of America Corp DE lifted its position in Celanese by 16.2% during the 2nd quarter. Bank of America Corp DE now owns 890,236 shares of the basic materials company’s stock valued at $95,968,000 after purchasing an additional 124,276 shares during the period. Institutional investors and hedge funds own 98.16% of the company’s stock.
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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