Celanese Co. (NYSE:CE) Receives $161.41 Average PT from Analysts

Celanese Co. (NYSE:CE) has been given a consensus recommendation of “Hold” by the seventeen brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six 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 $159.41.

A number of equities research analysts recently commented on CE shares. Bank of America decreased their target price on Celanese from $147.00 to $144.00 and set an “underperform” rating for the company in a report on Monday, June 10th. Mizuho boosted their target price on shares of Celanese from $161.00 to $173.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. BMO Capital Markets reiterated a “market perform” rating and set a $158.00 price objective on shares of Celanese in a research note on Tuesday, June 11th. Piper Sandler lifted their price target on Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Finally, Citigroup cut their target price on shares of Celanese from $167.00 to $148.00 and set a “neutral” rating for the company in a report on Thursday.

Celanese Stock Down 1.9 %

Celanese stock opened at $135.89 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. The firm has a market cap of $14.84 billion, a P/E ratio of 7.48, a P/E/G ratio of 0.54 and a beta of 1.34. The business has a fifty day moving average of $150.45 and a two-hundred day moving average of $152.66. Celanese has a twelve month low of $109.38 and a twelve month high of $172.16.

Celanese (NYSE:CE) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.91 by $0.17. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.67 billion. Celanese had a return on equity of 14.00% and a net margin of 18.60%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 EPS. On average, analysts forecast that Celanese will post 11.41 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, April 29th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, April 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.06%. Celanese’s dividend payout ratio is currently 15.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. acquired a new position in shares of Celanese in the 4th quarter valued at $28,000. Asset Dedication LLC boosted its stake in Celanese by 180.0% during the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock worth $29,000 after buying an additional 144 shares during the period. Desjardins Global Asset Management Inc. increased its position in shares of Celanese by 142.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Celanese by 100.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 94 shares during the period. Finally, Mather Group LLC. acquired a new position in shares of Celanese in the 1st quarter worth approximately $31,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.