Celanese Co. Declares Quarterly Dividend of $0.46 (CE)
Celanese Co. (NYSE:CE) declared a quarterly dividend on Thursday, April 20th. Shareholders of record on Monday, May 1st will be given a dividend of 0.46 per share by the basic materials company on Thursday, May 11th. This represents a $1.84 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, April 27th.
Celanese has raised its dividend payment by an average of 38.0% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Celanese has a dividend payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Celanese to earn $8.00 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 18.0%.
Celanese (NYSE:CE) traded down 0.87% on Friday, reaching $88.72. The company’s stock had a trading volume of 571,133 shares. The stock has a market cap of $12.50 billion, a PE ratio of 14.37 and a beta of 1.23. Celanese has a 12-month low of $60.59 and a 12-month high of $93.06. The company’s 50 day moving average price is $90.38 and its 200-day moving average price is $82.08.
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Celanese (NYSE:CE) last issued its earnings results on Monday, April 17th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.09. Celanese had a return on equity of 31.09% and a net margin of 16.70%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. On average, equities analysts expect that Celanese will post $7.25 EPS for the current year.
Several equities research analysts have weighed in on CE shares. Citigroup Inc raised Celanese from a “neutral” rating to a “buy” rating in a research note on Thursday, February 2nd. Barclays PLC boosted their price objective on Celanese from $85.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Robert W. Baird started coverage on Celanese in a research note on Friday, February 17th. They set an “outperform” rating and a $105.00 price objective on the stock. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Thursday, January 12th. Finally, Cowen and Company boosted their price objective on Celanese from $88.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.61.
In other Celanese news, insider Kevin S. Oliver sold 2,327 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $87.74, for a total transaction of $204,170.98. Following the completion of the transaction, the insider now owns 19,130 shares in the company, valued at $1,678,466.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by insiders.
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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