Celanese (NYSE:CE) had its target price lifted by Cowen from $110.00 to $120.00 in a report released on Wednesday, Briefing.com Automated Import reports. Cowen currently has a market perform rating on the basic materials company’s stock.
A number of other research firms also recently commented on CE. Barclays lifted their target price on Celanese from $126.00 to $135.00 and gave the company an overweight rating in a research report on Wednesday, October 23rd. SunTrust Banks lifted their target price on Celanese from $108.00 to $120.00 and gave the company a hold rating in a research report on Friday, October 11th. Nomura reduced their target price on Celanese from $107.00 to $105.00 and set a neutral rating on the stock in a research report on Wednesday, July 24th. Bank of America assumed coverage on Celanese in a research report on Thursday, September 26th. They issued an underperform rating and a $110.00 target price on the stock. They noted that the move was a valuation call. Finally, UBS Group lifted their price objective on Celanese from $128.00 to $138.00 and gave the company a buy rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $121.42.
Celanese stock traded down $0.35 during trading on Wednesday, reaching $125.96. 544,681 shares of the company were exchanged, compared to its average volume of 809,197. Celanese has a 52-week low of $82.91 and a 52-week high of $128.88. The company has a market capitalization of $15.16 billion, a P/E ratio of 11.45, a PEG ratio of 1.83 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.85 and a quick ratio of 1.21. The stock’s 50 day simple moving average is $122.38 and its two-hundred day simple moving average is $111.69.
Celanese (NYSE:CE) last posted its earnings results on Monday, October 21st. The basic materials company reported $2.53 EPS for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.03. Celanese had a return on equity of 38.21% and a net margin of 13.85%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the business earned $2.96 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts forecast that Celanese will post 9.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.97%. Celanese’s payout ratio is presently 22.55%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Celanese during the 3rd quarter worth $25,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Celanese during the 2nd quarter worth $28,000. Rockefeller Capital Management L.P. grew its stake in Celanese by 75.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 256 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Synovus Financial Corp grew its stake in Celanese by 162.1% during the 3rd quarter. Synovus Financial Corp now owns 249 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 154 shares in the last quarter. Finally, CSat Investment Advisory L.P. grew its stake in Celanese by 112.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 480 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 254 shares in the last quarter. 98.16% of the stock is owned by institutional investors and hedge funds.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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