Brokerages Set Celanese Co. (CE) PT at $83.75

Shares of Celanese Co. (NYSE:CE) have been assigned a consensus recommendation of “Buy” from the seventeen analysts that are currently covering the firm. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $88.41.

Several research firms have recently weighed in on CE. Instinet lifted their price objective on Celanese from $77.00 to $88.00 and gave the company a “neutral” rating in a research note on Wednesday. Nomura reissued a “hold” rating and set a $88.00 price target on shares of Celanese in a research report on Wednesday. Vetr raised Celanese from a “buy” rating to a “strong-buy” rating and set a $103.79 price target on the stock in a research report on Thursday, April 6th. Cowen and Company reissued an “outperform” rating and set a $90.00 price target on shares of Celanese in a research report on Wednesday. Finally, Deutsche Bank AG reduced their price target on Celanese from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday.

Celanese (NYSE:CE) traded down 1.23% during mid-day trading on Monday, reaching $88.40. 1,173,584 shares of the company were exchanged. Celanese has a 1-year low of $60.59 and a 1-year high of $93.06. The firm has a market capitalization of $12.46 billion, a P/E ratio of 14.31 and a beta of 1.23. The stock has a 50-day moving average of $90.38 and a 200 day moving average of $82.08.

Celanese (NYSE:CE) last released its quarterly earnings data on Monday, April 17th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.09. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. Celanese had a return on equity of 31.09% and a net margin of 16.70%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 EPS. Equities research analysts forecast that Celanese will post $7.25 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Stockholders of record on Monday, May 1st will be issued a $0.46 dividend. The ex-dividend date is Thursday, April 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.08%. Celanese’s dividend payout ratio (DPR) is 23.38%.

In other news, insider Kevin S. Oliver sold 2,327 shares of the business’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 completion of the sale, the insider now directly owns 19,130 shares in the company, valued at approximately $1,678,466.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Dodge & Cox purchased a new stake in shares of Celanese during the fourth quarter worth $1,048,252,000. Wells Fargo & Company MN increased its stake in shares of Celanese by 17.4% in the third quarter. Wells Fargo & Company MN now owns 3,785,358 shares of the basic materials company’s stock worth $251,954,000 after buying an additional 561,337 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Celanese by 38.3% in the third quarter. Bank of New York Mellon Corp now owns 2,968,073 shares of the basic materials company’s stock worth $197,555,000 after buying an additional 822,279 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Celanese during the fourth quarter worth $148,488,000. Finally, AQR Capital Management LLC increased its stake in shares of Celanese by 10.8% in the fourth quarter. AQR Capital Management LLC now owns 1,884,215 shares of the basic materials company’s stock worth $148,363,000 after buying an additional 183,238 shares during the period. Institutional investors and hedge funds own 98.08% of the company’s stock.

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About Celanese

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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