Insider Selling: Steven Sterin Sells 65,240 Shares of Celanese Corp. Ser -A- Stock (CE)
Celanese Corp. Ser -A- (NYSE:CE) CFO Steven Sterin sold 65,240 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $57.66, for a total value of $3,761,738.40. Following the completion of the transaction, the chief financial officer now directly owns 63,549 shares of the company’s stock, valued at approximately $3,664,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Celanese Corp. Ser -A- (NYSE:CE) traded down 0.67% on Friday, hitting $57.58. 938,192 shares of the company’s stock traded hands. Celanese Corp. Ser -A- has a 52 week low of $34.96 and a 52 week high of $51.65. The stock’s 50-day moving average is $49.18 and its 200-day moving average is $47.34. The company has a market cap of $9.126 billion and a price-to-earnings ratio of 17.83.
Celanese Corp. Ser -A- (NYSE:CE) last announced its earnings results on Monday, October 21st. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by $0.08. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that Celanese Corp. Ser -A- will post $4.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, October 31st.
A number of analysts have recently weighed in on CE shares. Analysts at RBC Capital raised their price target on shares of Celanese Corp. Ser -A- from $55.00 to $63.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Celanese Corp. Ser -A- from $57.00 to $65.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Celanese Corp. Ser -A- in a research note to investors on Tuesday. They now have a $60.00 price target on the stock, down previously from $65.00. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $58.22.
Celanese Corporation manufactures chemical products. The Company’s portfolio consists of five main businesses: Acetyl Products, Chemical Intermediates, Acetate Products, Technical Polymers Ticona and Performance Products.
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