Celanese Given New $64.00 Price Target at Cowen and Company (CE)
Investment analysts at Cowen and Company boosted their target price on shares of Celanese (NYSE:CE) from $52.00 to $64.00 in a note issued to investors on Tuesday, Analyst Ratings Net reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target would indicate a potential upside of 5.11% from the stock’s previous close.
Celanese (NYSE:CE) opened at 60.89 on Tuesday. Celanese has a 1-year low of $43.57 and a 1-year high of $61.98. The stock has a 50-day moving average of $57.70 and a 200-day moving average of $55.25. The company has a market cap of $9.495 billion and a price-to-earnings ratio of 8.35.
Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, April 21st. The company reported $1.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.21 by $0.12. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company posted $1.14 earnings per share. Celanese’s revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Celanese will post $5.10 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, May 16th. Investors of record on Monday, May 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, May 1st. This is an increase from Celanese’s previous quarterly dividend of $0.18.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Celanese in a research note on Thursday, April 24th. They now have a $63.00 price target on the stock. Separately, analysts at SunTrust reiterated a “buy” rating on shares of Celanese in a research note on Wednesday, April 23rd. They now have a $70.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Celanese in a research note on Wednesday, April 23rd. They now have a $58.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $64.91.
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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