Celanese Co. (NYSE:CE) – Equities researchers at KeyCorp lifted their FY2018 EPS estimates for Celanese in a research note issued to investors on Tuesday. KeyCorp analyst M. Sison now forecasts that the basic materials company will post earnings per share of $8.65 for the year, up from their previous estimate of $8.40. KeyCorp currently has a “Overweight” rating and a $131.00 target price on the stock. KeyCorp also issued estimates for Celanese’s FY2019 earnings at $9.40 EPS.
CE has been the topic of several other reports. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Monday, December 18th. SunTrust Banks reissued a “buy” rating on shares of Celanese in a report on Wednesday, January 17th. UBS boosted their target price on Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Wells Fargo reissued a “market perform” rating and issued a $110.00 target price (up from $104.00) on shares of Celanese in a report on Wednesday, January 17th. Finally, Citigroup boosted their target price on Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $114.16.
Shares of Celanese stock traded down $2.12 on Thursday, reaching $101.96. The company had a trading volume of 188,032 shares, compared to its average volume of 676,654. Celanese has a 1 year low of $83.34 and a 1 year high of $114.00. The company has a quick ratio of 1.21, a current ratio of 1.79 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $13,777.28, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.29.
Celanese (NYSE:CE) last posted its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.12. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. Celanese had a return on equity of 32.96% and a net margin of 13.73%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Tuesday, February 20th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, February 16th. Celanese’s dividend payout ratio is currently 30.16%.
In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the chief financial officer now owns 52,924 shares in the company, valued at approximately $5,821,640. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. First PREMIER Bank lifted its stake in Celanese by 900.0% in the 4th quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Cerebellum GP LLC acquired a new stake in Celanese in the 4th quarter valued at about $129,000. Compagnie Lombard Odier SCmA acquired a new stake in Celanese during the fourth quarter worth approximately $160,000. Lido Advisors LLC acquired a new stake in Celanese during the fourth quarter worth approximately $200,000. Finally, Wellington Shields & Co. LLC acquired a new stake in Celanese during the fourth quarter worth approximately $203,000. Institutional investors own 95.82% of the company’s stock.
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Celanese 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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