Celanese Corp. Ser -A- PT Raised to $63.00 at RBC Capital (CE)
Equities researchers at RBC Capital boosted their price objective on shares of Celanese Corp. Ser -A- (NYSE:CE) from $55.00 to $63.00 in a research report issued on Wednesday, American Banking News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target suggests a potential upside of 9.41% from the stock’s previous close.
Shares of Celanese Corp. Ser -A- (NYSE:CE) opened at 57.58 on Wednesday. Celanese Corp. Ser -A- has a one year low of $34.96 and a one year high of $51.65. The stock has a 50-day moving average of $49.18 and a 200-day moving average of $47.34. The company has a market cap of $9.126 billion and a P/E 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 last year, the company posted $0.93 earnings per share. Celanese Corp. Ser -A-’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Celanese Corp. Ser -A- will post $4.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, November 14th. Investors 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.
In other Celanese Corp. Ser -A- news, CFO Steven Sterin sold 65,240 shares of the company’s stock on the open market 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on CE. 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, October 22nd. They now have an “overweight” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Celanese Corp. Ser -A- in a research note to investors on Tuesday, October 22nd. They now have a $60.00 price target on the stock, down previously from $65.00. Finally, analysts at Jefferies Group raised their price target on shares of Celanese Corp. Ser -A- from $62.00 to $72.00 in a research note to investors on Tuesday, October 22nd. They now have a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.