Robert W. Baird Raises Celanese (NYSE:CE) Price Target to $108.00

Celanese (NYSE:CE) had its target price lifted by Robert W. Baird from $100.00 to $108.00 in a research report released on Thursday morning, The Fly reports. They currently have an outperform rating on the basic materials company’s stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets dropped their target price on shares of Celanese from $100.00 to $92.00 and set a market perform rating for the company in a report on Thursday, April 30th. UBS Group upped their target price on shares of Celanese from $88.00 to $91.00 and gave the stock a buy rating in a report on Tuesday, April 28th. Cfra upped their target price on shares of Celanese from $81.00 to $86.00 and gave the stock a hold rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. raised shares of Celanese from a neutral rating to an overweight rating and upped their target price for the stock from $83.00 to $110.00 in a report on Thursday. Finally, Deutsche Bank upped their target price on shares of Celanese from $95.00 to $100.00 and gave the stock a hold rating in a report on Tuesday, July 21st. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $105.95.

Shares of CE stock opened at $97.20 on Thursday. Celanese has a 1 year low of $52.70 and a 1 year high of $128.88. The firm has a fifty day moving average price of $88.67 and a 200-day moving average price of $90.07. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.20 and a quick ratio of 0.94. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 5.28 and a beta of 1.37.

Celanese (NYSE:CE) last issued its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.25. Celanese had a net margin of 11.13% and a return on equity of 33.49%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The company’s revenue for the quarter was down 25.1% compared to the same quarter last year. Equities research analysts expect that Celanese will post 6.73 EPS for the current year.

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

Several hedge funds and other institutional investors have recently made changes to their positions in CE. Quadrant Capital Group LLC raised its position in shares of Celanese by 15.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,548 shares of the basic materials company’s stock valued at $179,000 after buying an additional 211 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Celanese by 10.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,345 shares of the basic materials company’s stock valued at $411,000 after buying an additional 327 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Celanese by 130.0% during the 4th quarter. Janus Henderson Group PLC now owns 151,111 shares of the basic materials company’s stock valued at $18,605,000 after buying an additional 85,399 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Celanese during the 4th quarter valued at about $251,000. Finally, Sunbelt Securities Inc. purchased a new stake in Celanese in the 4th quarter worth about $18,560,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

About Celanese

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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