Celanese (NYSE:CE) Price Target Raised to $108.00

Celanese (NYSE:CE) had its price target upped by Citigroup from $102.00 to $108.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the basic materials company’s stock.

CE has been the subject of several other research reports. Cfra boosted their price target on Celanese from $81.00 to $86.00 and gave the company a hold rating in a research note on Tuesday, April 28th. ValuEngine raised Celanese from a sell rating to a hold rating in a research note on Thursday, July 2nd. UBS Group boosted their price target on Celanese from $88.00 to $91.00 and gave the company a buy rating in a research note on Tuesday, April 28th. Wells Fargo & Co cut Celanese from an overweight rating to an equal weight rating and set a $90.00 price target for the company. in a research note on Wednesday, April 29th. Finally, Deutsche Bank boosted their price target on Celanese from $95.00 to $100.00 and gave the company a hold rating in a research note on Tuesday, July 21st. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $105.95.

NYSE:CE opened at $97.20 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.20 and a quick ratio of 0.94. Celanese has a fifty-two week low of $52.70 and a fifty-two week high of $128.88. The stock’s 50-day moving average is $88.67 and its two-hundred day moving average is $90.07. The stock has a market cap of $11.49 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 5.28 and a beta of 1.37.

Celanese (NYSE:CE) last released its earnings results on Tuesday, July 28th. The basic materials company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.25. Celanese had a return on equity of 33.49% and a net margin of 11.13%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business posted $2.38 EPS. The business’s revenue for the quarter was down 25.1% on a year-over-year basis. On average, equities research analysts anticipate that Celanese will post 6.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 27th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.55%. Celanese’s dividend payout ratio (DPR) is presently 26.02%.

Several hedge funds have recently modified their holdings of the company. Seascape Capital Management lifted its holdings in shares of Celanese by 0.7% during the first quarter. Seascape Capital Management now owns 18,242 shares of the basic materials company’s stock worth $1,339,000 after buying an additional 119 shares during the last quarter. Ropes Wealth Advisors LLC lifted its holdings in shares of Celanese by 3.2% during the second quarter. Ropes Wealth Advisors LLC now owns 4,575 shares of the basic materials company’s stock worth $395,000 after buying an additional 140 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Celanese by 4.6% during the first quarter. Cigna Investments Inc. New now owns 3,426 shares of the basic materials company’s stock worth $251,000 after buying an additional 150 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Celanese by 1.6% during the second quarter. CIBC Asset Management Inc now owns 10,572 shares of the basic materials company’s stock worth $913,000 after buying an additional 162 shares during the last quarter. Finally, Palisade Asset Management LLC raised its stake in shares of Celanese by 3.0% in the first quarter. Palisade Asset Management LLC now owns 5,753 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

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