Celanese Co. (NYSE:CE)‘s stock had its “buy” rating reaffirmed by equities researchers at Royal Bank of Canada in a report released on Tuesday. They currently have a $100.00 price target on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 11.21% from the company’s previous close.
Other research analysts also recently issued research reports about the company. Goldman Sachs Group Inc raised Celanese from a “neutral” rating to a “buy” rating and boosted their price target for the company from $83.00 to $92.00 in a research note on Wednesday, November 30th. Citigroup Inc upgraded Celanese from a “neutral” rating to a “buy” rating in a research report on Thursday, February 2nd. Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Thursday, January 12th. Cowen and Company lifted their target price on Celanese from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, December 1st. Finally, Robert W. Baird initiated coverage on Celanese in a research report on Friday, February 17th. They issued an “outperform” rating and a $105.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $83.27.
Shares of Celanese (NYSE:CE) traded down 0.03% on Tuesday, reaching $89.92. 1,999,872 shares of the company were exchanged. The stock has a 50 day moving average price of $89.71 and a 200-day moving average price of $79.02. Celanese has a 12 month low of $60.59 and a 12 month high of $93.05. The stock has a market capitalization of $12.67 billion, a P/E ratio of 14.56 and a beta of 1.23.
Celanese (NYSE:CE) last posted its quarterly earnings results on Wednesday, February 1st. The company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.01. The business earned $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Celanese had a return on equity of 31.09% and a net margin of 16.70%. Celanese’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, equities analysts expect that Celanese will post $7.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Investors of record on Tuesday, February 21st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, February 16th. Celanese’s payout ratio is presently 23.38%.
In related news, insider Kevin S. Oliver sold 2,327 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $87.74, for a total value of $204,170.98. Following the sale, the insider now directly owns 19,130 shares in the company, valued at $1,678,466.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Dodge & Cox bought a new stake in shares of Celanese during the fourth quarter valued at approximately $1,048,252,000. Norges Bank bought a new stake in shares of Celanese during the fourth quarter valued at approximately $100,708,000. Numeric Investors LLC boosted its stake in shares of Celanese by 189.7% in the fourth quarter. Numeric Investors LLC now owns 62,000 shares of the company’s stock valued at $4,882,000 after buying an additional 40,600 shares during the last quarter. Luminus Management LLC bought a new stake in shares of Celanese during the fourth quarter valued at approximately $4,914,000. Finally, Castleark Management LLC boosted its stake in shares of Celanese by 319.1% in the fourth quarter. Castleark Management LLC now owns 65,085 shares of the company’s stock valued at $5,125,000 after buying an additional 49,555 shares during the last quarter. Institutional investors and hedge funds own 98.08% of the company’s stock.
Celanese Company Profile
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.