Celanese Co. (CE) Receives Consensus Rating of “Buy” from Brokerages
Shares of Celanese Co. (NYSE:CE) have earned an average recommendation of “Buy” from the sixteen brokerages that are presently covering the stock. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $91.34.
Several equities analysts recently commented on CE shares. Barclays PLC cut their price target on shares of Celanese from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, April 25th. Citigroup Inc upgraded shares of Celanese from a “neutral” rating to a “buy” rating in a report on Thursday, February 2nd. Robert W. Baird started coverage on shares of Celanese in a report on Friday, February 17th. They set an “outperform” rating and a $105.00 price target on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $104.00 price target (up from $100.00) on shares of Celanese in a report on Saturday, April 22nd. Finally, Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Thursday, January 12th.
In other Celanese news, insider Kevin S. Oliver sold 2,327 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $87.74, for a total value of $204,170.98. Following the transaction, the insider now directly owns 19,130 shares in the company, valued at approximately $1,678,466.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Seven Eight Capital LP bought a new position in shares of Celanese during the fourth quarter worth approximately $554,000. Capital Fund Management S.A. increased its position in shares of Celanese by 2.6% in the third quarter. Capital Fund Management S.A. now owns 279,527 shares of the basic materials company’s stock worth $18,605,000 after buying an additional 7,199 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Celanese by 0.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 301,750 shares of the basic materials company’s stock worth $20,084,000 after buying an additional 2,713 shares in the last quarter. APG Asset Management N.V. increased its position in shares of Celanese by 5.6% in the third quarter. APG Asset Management N.V. now owns 342,260 shares of the basic materials company’s stock worth $22,781,000 after buying an additional 18,300 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Celanese during the fourth quarter worth approximately $119,000. Institutional investors and hedge funds own 98.08% of the company’s stock.
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Shares of Celanese (NYSE:CE) opened at 86.18 on Tuesday. The company has a market capitalization of $12.02 billion, a PE ratio of 15.02 and a beta of 1.23. Celanese has a 1-year low of $60.59 and a 1-year high of $93.06. The company has a 50 day moving average price of $89.48 and a 200 day moving average price of $83.86.
Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, April 17th. The basic materials company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.72 by $0.09. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. Celanese had a net margin of 16.70% and a return on equity of 31.09%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 EPS. Equities analysts predict that Celanese will post $7.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 11th. Shareholders of record on Monday, May 1st will be paid a $0.46 dividend. This is an increase from Celanese’s previous quarterly dividend of $0.36. This represents a $1.84 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, April 27th. Celanese’s dividend payout ratio is currently 23.38%.
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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