Celanese (NYSE:CE) has been given a consensus rating of “Buy” by the twenty-three research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $114.96.
CE has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a report on Tuesday, January 23rd. UBS boosted their target price on shares of Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Citigroup boosted their target price on shares of Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Jefferies Group restated a “buy” rating and issued a $130.00 target price on shares of Celanese in a report on Monday, January 29th. Finally, Deutsche Bank restated a “buy” rating and issued a $128.00 target price on shares of Celanese in a report on Monday, January 29th.
A number of hedge funds have recently modified their holdings of CE. Millennium Management LLC grew its stake in Celanese by 231.1% in the 1st quarter. Millennium Management LLC now owns 1,138,489 shares of the basic materials company’s stock worth $114,088,000 after acquiring an additional 794,690 shares in the last quarter. BlackRock Inc. lifted its position in shares of Celanese by 4.8% in the 1st quarter. BlackRock Inc. now owns 7,450,478 shares of the basic materials company’s stock worth $746,612,000 after purchasing an additional 341,770 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in shares of Celanese by 37.2% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,114,498 shares of the basic materials company’s stock worth $119,340,000 after purchasing an additional 302,015 shares during the period. Victory Capital Management Inc. lifted its position in shares of Celanese by 10.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock worth $238,797,000 after purchasing an additional 212,134 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Celanese by 57.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 574,051 shares of the basic materials company’s stock worth $57,527,000 after purchasing an additional 209,102 shares during the period. Institutional investors and hedge funds own 94.26% of the company’s stock.
Shares of CE stock opened at $114.07 on Monday. The firm has a market capitalization of $15.50 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.38 and a beta of 1.31. Celanese has a 52 week low of $84.22 and a 52 week high of $115.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.28 and a current ratio of 1.88.
Celanese (NYSE:CE) last posted its earnings results on Monday, April 16th. The basic materials company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.46. Celanese had a net margin of 15.69% and a return on equity of 35.22%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm posted $1.81 EPS. The business’s quarterly revenue was up 25.8% on a year-over-year basis. equities analysts expect that Celanese will post 9.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Monday, April 30th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.89%. This is an increase from Celanese’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, April 27th. Celanese’s dividend payout ratio is presently 28.76%.
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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