Celanese (CE) Price Target Raised to $131.00

Celanese (NYSE:CE) had its price objective raised by KeyCorp from $128.00 to $131.00 in a report released on Wednesday morning. KeyCorp currently has an overweight rating on the basic materials company’s stock. KeyCorp also issued estimates for Celanese’s FY2018 earnings at $8.65 EPS and FY2019 earnings at $9.40 EPS.

Other equities research analysts have also issued reports about the stock. Deutsche Bank restated a buy rating and issued a $128.00 price objective on shares of Celanese in a report on Monday, January 29th. Jefferies Group restated a buy rating and issued a $130.00 price objective on shares of Celanese in a report on Monday, January 29th. Robert W. Baird reiterated a buy rating and set a $130.00 price target on shares of Celanese in a research note on Monday, January 29th. Citigroup lifted their price target on shares of Celanese from $123.00 to $128.00 and gave the stock a buy rating in a research note on Monday, January 29th. Finally, UBS lifted their price target on shares of Celanese from $107.00 to $113.00 and gave the stock a neutral rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Celanese currently has an average rating of Buy and a consensus price target of $114.16.

Shares of CE stock opened at $96.72 on Wednesday. Celanese has a fifty-two week low of $83.34 and a fifty-two week high of $114.00. The firm has a market cap of $14,135.83, a price-to-earnings ratio of 15.86, a PEG ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.79 and a quick ratio of 1.21.

Celanese (NYSE:CE) last announced its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.12. Celanese had a net margin of 13.73% and a return on equity of 32.96%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $1.52 EPS. The company’s revenue was up 21.5% on a year-over-year basis. sell-side analysts anticipate that Celanese will post 8.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.84 dividend on an annualized basis and a yield of 1.90%. Celanese’s dividend payout ratio is presently 30.16%.

In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of Celanese stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the chief financial officer now directly owns 52,924 shares in the company, valued at $5,821,640. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CE. Amundi Pioneer Asset Management Inc. increased its stake in Celanese by 37.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,114,498 shares of the basic materials company’s stock valued at $119,340,000 after purchasing an additional 302,015 shares during the period. Janus Henderson Group PLC increased its stake in Celanese by 134.3% in the third quarter. Janus Henderson Group PLC now owns 465,222 shares of the basic materials company’s stock valued at $48,509,000 after purchasing an additional 266,698 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Celanese by 13.4% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,150,894 shares of the basic materials company’s stock valued at $224,274,000 after purchasing an additional 253,809 shares during the period. Victory Capital Management Inc. increased its stake in Celanese by 10.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock valued at $238,797,000 after purchasing an additional 212,134 shares during the period. Finally, Baird Financial Group Inc. acquired a new position in Celanese in the fourth quarter valued at $20,909,000. 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.

Analyst Recommendations for Celanese (NYSE:CE)

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