Tudor Pickering Begins Coverage on Celanese Corporation (CE)

Tudor Pickering began coverage on shares of Celanese Corporation (NYSE:CE) in a report published on Tuesday, The Fly reports. The brokerage issued a buy rating on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on CE. Cowen and Company restated an outperform rating and set a $115.00 target price (up from $100.00) on shares of Celanese Corporation in a research report on Wednesday, August 9th. ValuEngine cut Celanese Corporation from a strong-buy rating to a buy rating in a research report on Friday, October 6th. Jefferies Group LLC restated a buy rating and set a $122.00 target price on shares of Celanese Corporation in a research report on Thursday, October 19th. BidaskClub cut Celanese Corporation from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Finally, Royal Bank Of Canada raised their price target on shares of Celanese Corporation from $109.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Celanese Corporation presently has a consensus rating of Buy and an average target price of $107.74.



Shares of Celanese Corporation (CE) traded up $1.10 on Tuesday, reaching $104.23. The company’s stock had a trading volume of 499,700 shares, compared to its average volume of 890,358. The firm has a market cap of $13,988.14, a P/E ratio of 14.63, a P/E/G ratio of 1.56 and a beta of 1.31. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.69 and a quick ratio of 1.16. Celanese Corporation has a 12 month low of $75.79 and a 12 month high of $109.11.

Celanese Corporation (NYSE:CE) last announced its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.01. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. analysts predict that Celanese Corporation will post 7.37 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, October 27th. Celanese Corporation’s dividend payout ratio (DPR) is 32.11%.

In other news, CFO Christopher W. Jensen sold 1,000 shares of Celanese Corporation stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the sale, the chief financial officer now owns 60,086 shares of the company’s stock, valued at approximately $6,289,802.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John K. Wulff sold 2,500 shares of Celanese Corporation stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total transaction of $264,700.00. Following the sale, the director now directly owns 30,175 shares in the company, valued at approximately $3,194,929. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Celanese Corporation by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,890,128 shares of the basic materials company’s stock valued at $1,128,848,000 after buying an additional 153,112 shares during the period. JPMorgan Chase & Co. raised its position in shares of Celanese Corporation by 33.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock valued at $284,749,000 after buying an additional 752,057 shares during the period. Boston Partners raised its position in shares of Celanese Corporation by 28.0% during the 2nd quarter. Boston Partners now owns 2,850,620 shares of the basic materials company’s stock valued at $270,637,000 after buying an additional 623,671 shares during the period. LSV Asset Management raised its position in shares of Celanese Corporation by 15.0% during the 2nd quarter. LSV Asset Management now owns 2,212,008 shares of the basic materials company’s stock valued at $210,008,000 after buying an additional 288,356 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Celanese Corporation by 33.2% during the 2nd quarter. Victory Capital Management Inc. now owns 2,013,602 shares of the basic materials company’s stock valued at $191,171,000 after buying an additional 501,469 shares during the period. 97.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

The Fly

Analyst Recommendations for Celanese Corporation (NYSE:CE)

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