Celanese Co. (NYSE:CE) announced a quarterly dividend on Thursday, October 18th, Wall Street Journal reports. Investors of record on Monday, October 29th will be paid a dividend of 0.54 per share by the basic materials company on Thursday, November 8th. This represents a $2.16 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, October 26th.
Celanese has increased its dividend payment by an average of 23.2% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Celanese has a payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Celanese to earn $10.90 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 19.8%.
NYSE:CE traded down $2.58 during mid-day trading on Thursday, hitting $97.17. The stock had a trading volume of 2,184,199 shares, compared to its average volume of 891,045. Celanese has a twelve month low of $95.45 and a twelve month high of $119.29. The company has a market capitalization of $15.39 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.39 and a current ratio of 1.96.
Celanese (NYSE:CE) last issued its earnings results on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.50. Celanese had a net margin of 16.57% and a return on equity of 37.74%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the business posted $1.79 EPS. Celanese’s revenue was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that Celanese will post 10.57 earnings per share for the current year.
CE has been the topic of several research analyst reports. Vertical Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday. Zacks Investment Research cut shares of Celanese from a “buy” rating to a “hold” rating in a report on Tuesday. Nomura lowered their price target on shares of Celanese from $120.00 to $108.00 and set a “neutral” rating on the stock in a report on Monday. Citigroup lowered their price target on shares of Celanese from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Finally, ValuEngine cut shares of Celanese from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Celanese currently has a consensus rating of “Buy” and a consensus target price of $124.29.
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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