Celanese Co. (CE) Receives $83.75 Average PT from Analysts

Shares of Celanese Co. (NYSE:CE) have been given an average recommendation of “Buy” by the sixteen brokerages that are presently covering the company. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $83.75.

CE has been the subject of a number of recent analyst reports. Citigroup Inc upgraded Celanese from a “neutral” rating to a “buy” rating in a report on Thursday, February 2nd. Barclays PLC increased their price objective on shares of Celanese from $85.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Robert W. Baird started coverage on shares of Celanese in a research report on Friday, February 17th. They set an “outperform” rating and a $105.00 price objective on the stock. Zacks Investment Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Thursday, January 12th. Finally, Cowen and Company increased their price objective on shares of Celanese from $88.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th.

Shares of Celanese (NYSE:CE) traded up 0.54% during mid-day trading on Monday, hitting $89.95. The stock had a trading volume of 717,097 shares. The company has a market cap of $12.68 billion, a P/E ratio of 14.56 and a beta of 1.23. Celanese has a 1-year low of $60.59 and a 1-year high of $93.05. The firm’s 50 day moving average price is $89.56 and its 200 day moving average price is $78.42.

Celanese (NYSE:CE) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.01. Celanese had a return on equity of 31.09% and a net margin of 16.70%. The firm earned $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $1.25 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. Analysts predict that Celanese will post $7.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 3rd. Investors of record on Tuesday, February 21st were given a $0.36 dividend. The ex-dividend date was Thursday, February 16th. This represents a $1.44 annualized dividend and a yield of 1.60%. Celanese’s payout ratio is 23.38%.

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In related news, insider Kevin S. Oliver sold 2,327 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $87.74, for a total value of $204,170.98. Following the transaction, the insider now owns 19,130 shares of the company’s stock, valued at approximately $1,678,466.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.49% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Celanese by 17.6% in the second quarter. Royal Bank of Canada now owns 339,023 shares of the company’s stock valued at $22,187,000 after buying an additional 50,687 shares during the last quarter. Eqis Capital Management Inc. boosted its position in shares of Celanese by 1.5% in the third quarter. Eqis Capital Management Inc. now owns 6,727 shares of the company’s stock valued at $448,000 after buying an additional 101 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Celanese by 40.3% in the third quarter. BNP Paribas Arbitrage SA now owns 63,307 shares of the company’s stock valued at $4,214,000 after buying an additional 18,199 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Celanese by 98.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,247 shares of the company’s stock valued at $1,215,000 after buying an additional 9,055 shares during the last quarter. Finally, British Columbia Investment Management Corp boosted its position in shares of Celanese by 37.0% in the third quarter. British Columbia Investment Management Corp now owns 119,517 shares of the company’s stock valued at $7,955,000 after buying an additional 32,272 shares during the last quarter. 98.08% of the stock is currently owned by institutional investors and hedge funds.

About Celanese

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.

5 Day Chart for NYSE:CE

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