Celanese Co. (NYSE:CE) Receives $109.33 Consensus PT from Brokerages

Celanese Co. (NYSE:CE) has received an average recommendation of “Reduce” from the seventeen ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $108.22.

Several research firms have recently issued reports on CE. Robert W. Baird dropped their price objective on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup dropped their price objective on shares of Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company lowered shares of Celanese from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $165.00 to $115.00 in a research report on Tuesday, November 5th. BMO Capital Markets lowered shares of Celanese from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $138.00 to $76.00 in a research report on Monday, November 11th. Finally, Piper Sandler dropped their price objective on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CE. DT Investment Partners LLC grew its holdings in Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Celanese in the 2nd quarter worth about $28,000. Mather Group LLC. lifted its position in shares of Celanese by 124.0% in the 3rd quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock worth $55,000 after buying an additional 222 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Celanese by 1,395.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock worth $87,000 after buying an additional 600 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Celanese in the 3rd quarter worth about $89,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Stock Performance

NYSE:CE opened at $67.28 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The company has a market cap of $7.35 billion, a P/E ratio of 6.77, a P/E/G ratio of 0.72 and a beta of 1.18. Celanese has a fifty-two week low of $64.05 and a fifty-two week high of $172.16. The firm’s 50 day moving average is $73.02 and its two-hundred day moving average is $111.07.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 EPS. Analysts expect that Celanese will post 8.38 EPS for the current year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.16%. The ex-dividend date was Wednesday, October 30th. Celanese’s dividend payout ratio is currently 28.17%.

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.