Celanese (CE) Sets New 1-Year High and Low at $116.34

Celanese (NYSE:CE) hit a new 52-week high and low on Tuesday . The company traded as low as $116.34 and last traded at $114.32, with a volume of 19805 shares changing hands. The stock had previously closed at $115.38.

A number of brokerages have recently weighed in on CE. UBS raised shares of Celanese from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $111.10 to $113.00 in a report on Wednesday, May 16th. Cowen reissued an “outperform” rating and set a $125.00 price objective (up from $120.00) on shares of Celanese in a report on Friday, May 4th. ValuEngine lowered shares of Celanese from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. MED reissued a “sell” rating and set a $82.00 price objective on shares of Celanese in a report on Tuesday, April 24th. Finally, Barclays began coverage on shares of Celanese in a report on Friday, April 20th. They set an “overweight” rating and a $111.19 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $114.96.

The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.28 and a current ratio of 1.88.

Celanese (NYSE:CE) last released its quarterly earnings results on Monday, April 16th. The basic materials company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.46. Celanese had a net margin of 15.69% and a return on equity of 35.22%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. research analysts expect that Celanese will post 9.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Monday, April 30th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, April 27th. This is an increase from Celanese’s previous quarterly dividend of $0.46. Celanese’s dividend payout ratio is 28.76%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CE. Acadian Asset Management LLC raised its position in shares of Celanese by 652.9% during the 4th quarter. Acadian Asset Management LLC now owns 4,796 shares of the basic materials company’s stock worth $513,000 after purchasing an additional 4,159 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Celanese by 140.6% during the 4th quarter. State of Alaska Department of Revenue now owns 16,085 shares of the basic materials company’s stock worth $1,721,000 after purchasing an additional 9,400 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Celanese during the 4th quarter worth about $129,000. SG Americas Securities LLC acquired a new position in shares of Celanese during the 4th quarter worth about $726,000. Finally, APG Asset Management N.V. raised its position in shares of Celanese by 1.0% during the 4th quarter. APG Asset Management N.V. now owns 519,301 shares of the basic materials company’s stock worth $46,308,000 after purchasing an additional 5,100 shares during the last quarter. Hedge funds and other institutional investors own 94.26% of the company’s stock.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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