Celanese (NYSE:CE) Sees Strong Trading Volume – Time to Buy?

Celanese Co. (NYSE:CE) shares saw unusually-strong trading volume on Monday . Approximately 2,741,660 shares traded hands during trading, an increase of 60% from the previous session’s volume of 1,711,790 shares.The stock last traded at $59.32 and had previously closed at $57.10.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CE shares. JPMorgan Chase & Co. reduced their target price on Celanese from $92.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Jefferies Financial Group reduced their price objective on Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Alembic Global Advisors upgraded Celanese from a “neutral” rating to an “overweight” rating and set a $70.00 target price for the company in a research note on Monday, March 17th. BMO Capital Markets reduced their price target on shares of Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Finally, UBS Group lowered their price objective on shares of Celanese from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Celanese presently has a consensus rating of “Hold” and a consensus target price of $66.67.

Celanese Stock Down 0.9 %

The business has a fifty day moving average of $62.45 and a 200 day moving average of $85.39. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The firm has a market cap of $6.41 billion, a P/E ratio of -4.21, a P/E/G ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE) last issued its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. On average, equities research analysts predict that Celanese Co. will post 8.79 EPS for the current year.

Celanese Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.03 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. Celanese’s payout ratio is -0.86%.

Institutional Investors Weigh In On Celanese

A number of hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Celanese during the 4th quarter worth approximately $25,000. UMB Bank n.a. boosted its holdings in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after buying an additional 194 shares during the period. State of Wyoming raised its holdings in shares of Celanese by 122.5% during the fourth quarter. State of Wyoming now owns 485 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 267 shares during the period. CKW Financial Group lifted its position in Celanese by 52.9% in the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 185 shares in the last quarter. Finally, LRI Investments LLC lifted its position in Celanese by 739.1% in the 4th quarter. LRI Investments LLC now owns 537 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 473 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.