Celanese (NYSE:CE) – Investment analysts at KeyCorp boosted their Q2 2018 earnings per share (EPS) estimates for Celanese in a note issued to investors on Wednesday, April 18th. KeyCorp analyst M. Sison now expects that the basic materials company will post earnings of $2.40 per share for the quarter, up from their previous estimate of $2.05. KeyCorp has a “Overweight” rating and a $131.00 price objective on the stock.
Several other equities research analysts have also weighed in on CE. Barclays began coverage on Celanese in a report on Friday, April 20th. They issued an “overweight” rating and a $111.19 price objective for the company. BMO Capital Markets lifted their price objective on Celanese to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, April 18th. MED reissued a “sell” rating and issued a $82.00 price objective on shares of Celanese in a report on Tuesday. Morgan Stanley lifted their price objective on Celanese from $88.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 18th. Finally, Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a report on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $114.68.
Shares of CE opened at $109.36 on Monday. Celanese has a fifty-two week low of $83.34 and a fifty-two week high of $114.00. The stock has a market capitalization of $15,170.76, a P/E ratio of 14.56, a PEG ratio of 1.35 and a beta of 1.33. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.91.
Celanese (NYSE:CE) last announced its earnings results on Monday, April 16th. The basic materials company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.46. Celanese had a return on equity of 35.22% and a net margin of 15.69%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm posted $1.81 EPS. The business’s revenue was up 25.8% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the business. First PREMIER Bank boosted 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 worth $107,000 after purchasing an additional 900 shares during the period. Cerebellum GP LLC bought a new position in Celanese in the 4th quarter worth about $129,000. Compagnie Lombard Odier SCmA bought a new position in Celanese in the 4th quarter worth about $160,000. Lido Advisors LLC bought a new position in Celanese in the 4th quarter worth about $200,000. Finally, Wellington Shields & Co. LLC bought a new position in Celanese in the 4th quarter worth about $203,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Monday, April 30th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $2.16 annualized dividend and a yield of 1.98%. This is an increase from Celanese’s previous quarterly dividend of $0.46. Celanese’s dividend payout ratio (DPR) is currently 24.50%.
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Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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