Jefferies Group LLC reissued their buy rating on shares of Celanese Corporation (NYSE:CE) in a research note released on Thursday, October 19th. They currently have a $122.00 target price on the basic materials company’s stock. Jefferies Group also issued estimates for Celanese Corporation’s Q4 2017 earnings at $1.82 EPS, FY2017 earnings at $7.35 EPS, FY2018 earnings at $8.10 EPS, FY2019 earnings at $9.30 EPS and FY2020 earnings at $10.00 EPS.
Other equities research analysts have also issued reports about the company. Vertical Research lowered Celanese Corporation from a buy rating to a hold rating and lifted their price objective for the stock from $101.00 to $103.00 in a research report on Monday, July 10th. They noted that the move was a valuation call. UBS AG restated a neutral rating and issued a $95.00 target price (up previously from $90.00) on shares of Celanese Corporation in a research note on Thursday, June 22nd. BidaskClub cut Celanese Corporation from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Royal Bank Of Canada raised their target price on Celanese Corporation from $109.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, October 18th. Finally, Alembic Global Advisors restated a sell rating on shares of Celanese Corporation in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Celanese Corporation has an average rating of Buy and a consensus target price of $107.74.
Shares of Celanese Corporation (NYSE:CE) opened at 105.03 on Thursday. The company has a market cap of $14.35 billion, a price-to-earnings ratio of 18.41 and a beta of 1.31. The firm has a 50-day moving average of $103.77 and a 200 day moving average of $95.39. Celanese Corporation has a one year low of $70.64 and a one year high of $109.11.
Celanese Corporation (NYSE:CE) last issued its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.01. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.49 billion. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. Equities research analysts anticipate that Celanese Corporation will post $7.37 EPS for the current year.
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Celanese Corporation announced that its board has initiated a stock buyback plan on Monday, July 17th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to buy up to 10.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Monday, October 30th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, October 27th. Celanese Corporation’s dividend payout ratio is presently 32.11%.
In other Celanese Corporation news, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total transaction of $264,700.00. Following the completion of the sale, the director now owns 30,175 shares of the company’s stock, valued at $3,194,929. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.
Several institutional investors have recently made changes to their positions in CE. Northwestern Mutual Wealth Management Co. lifted its position in shares of Celanese Corporation by 24.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 206 shares in the last quarter. Barrett Asset Management LLC purchased a new position in shares of Celanese Corporation in the second quarter valued at about $142,000. Fiduciary Trust Co. purchased a new position in shares of Celanese Corporation in the second quarter valued at about $150,000. Toronto Dominion Bank lifted its position in shares of Celanese Corporation by 8.4% in the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock valued at $164,000 after acquiring an additional 134 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Celanese Corporation by 31.5% in the first quarter. Fifth Third Bancorp now owns 2,005 shares of the basic materials company’s stock valued at $180,000 after acquiring an additional 480 shares in the last quarter. Institutional investors and hedge funds own 97.12% of the company’s stock.
Celanese Corporation Company Profile
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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