Wells Fargo & Co restated their market perform rating on shares of Celanese (NYSE:CE) in a research note published on Wednesday, January 17th, The Fly reports. They currently have a $110.00 price objective on the basic materials company’s stock, up from their previous price objective of $104.00.
CE has been the subject of several other reports. SunTrust Banks restated a buy rating on shares of Celanese in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of Celanese from a buy rating to a hold rating in a research report on Friday, December 15th. Tudor Pickering assumed coverage on shares of Celanese in a research note on Tuesday, November 14th. They set a buy rating on the stock. Royal Bank of Canada upped their price target on shares of Celanese from $109.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, October 18th. Finally, Instinet reissued a neutral rating and issued a $100.00 target price (up previously from $97.00) on shares of Celanese in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Celanese presently has a consensus rating of Buy and a consensus price target of $113.28.
Celanese (NYSE:CE) traded up $2.47 during trading hours on Wednesday, reaching $100.21. 1,080,000 shares of the company traded hands, compared to its average volume of 751,787. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.69 and a quick ratio of 1.16. The company has a market capitalization of $13,592.08, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.32 and a beta of 1.27. Celanese has a 1-year low of $83.34 and a 1-year high of $114.00.
Celanese (NYSE:CE) last released its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.12. Celanese had a net margin of 13.73% and a return on equity of 33.49%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. analysts anticipate that Celanese will post 8.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, February 16th. Celanese’s dividend payout ratio (DPR) is 30.16%.
In related 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 sale, the chief financial officer now owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. First PREMIER Bank boosted its stake in Celanese by 900.0% during the 4th quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 900 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Celanese by 24.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 206 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Celanese during the 4th quarter valued at about $129,000. Toronto Dominion Bank boosted its position in shares of Celanese by 8.4% during the 2nd quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock valued at $164,000 after acquiring an additional 134 shares during the last quarter. Finally, Wellington Shields & Co. LLC acquired a new position in shares of Celanese during the 4th quarter valued at about $203,000. 95.94% of the stock is currently owned by institutional investors.
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.
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