Stifel Nicolaus Raises Celanese (NYSE:CE) Price Target to $103.00

Celanese (NYSE:CE) had its target price boosted by Stifel Nicolaus from $87.00 to $103.00 in a report published on Thursday, BenzingaRatingsTable reports. They currently have a hold rating on the basic materials company’s stock.

CE has been the topic of a number of other reports. ValuEngine upgraded shares of Celanese from a sell rating to a hold rating in a research report on Thursday, July 2nd. BMO Capital Markets reduced their target price on shares of Celanese from $100.00 to $92.00 and set a market perform rating on the stock in a research note on Thursday, April 30th. Bank of America lifted their target price on shares of Celanese from $100.00 to $104.00 and gave the stock a neutral rating in a research note on Tuesday, July 21st. SunTrust Banks reduced their target price on shares of Celanese from $110.00 to $85.00 and set a hold rating on the stock in a research note on Wednesday, April 29th. Finally, Citigroup lifted their target price on shares of Celanese from $102.00 to $108.00 and gave the stock a buy rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $105.95.

CE opened at $97.20 on Thursday. The firm has a market capitalization of $11.49 billion, a PE ratio of 18.66, a PEG ratio of 5.28 and a beta of 1.37. Celanese has a twelve month low of $52.70 and a twelve month high of $128.88. The firm’s 50-day moving average price is $88.67 and its 200 day moving average price is $90.07. The company has a current ratio of 1.20, a quick ratio of 0.94 and a debt-to-equity ratio of 1.11.

Celanese (NYSE:CE) last posted its quarterly earnings results on Tuesday, July 28th. The basic materials company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.25. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.08 billion. Celanese had a net margin of 11.13% and a return on equity of 33.49%. Celanese’s quarterly revenue was down 25.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.38 earnings per share. As a group, analysts predict that Celanese will post 6.73 earnings per share for the current fiscal year.

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

Several institutional investors have recently added to or reduced their stakes in CE. Wellington Management Group LLP increased its stake in Celanese by 14.2% during the 1st quarter. Wellington Management Group LLP now owns 9,675,863 shares of the basic materials company’s stock worth $710,112,000 after buying an additional 1,204,200 shares during the period. Capital International Investors increased its stake in Celanese by 7.7% during the 1st quarter. Capital International Investors now owns 7,642,542 shares of the basic materials company’s stock worth $560,886,000 after buying an additional 548,661 shares during the period. Wells Fargo & Company MN increased its stake in Celanese by 14.3% during the 1st quarter. Wells Fargo & Company MN now owns 3,124,745 shares of the basic materials company’s stock worth $229,324,000 after buying an additional 390,262 shares during the period. Geode Capital Management LLC increased its stake in Celanese by 4.0% during the 1st quarter. Geode Capital Management LLC now owns 1,982,949 shares of the basic materials company’s stock worth $145,257,000 after buying an additional 75,739 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Celanese by 10.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,817,562 shares of the basic materials company’s stock worth $133,390,000 after buying an additional 175,771 shares during the period. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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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