Celanese Corporation (CE) Now Covered by Analysts at Tudor Pickering
Tudor Pickering started coverage on shares of Celanese Corporation (NYSE:CE) in a research report sent to investors on Tuesday morning. The brokerage issued a buy rating on the basic materials company’s stock.
Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Celanese Corporation from a strong-buy rating to a buy rating in a report on Friday, October 6th. Nomura raised their price objective on shares of Celanese Corporation from $97.00 to $100.00 and gave the stock a neutral rating in a report on Tuesday, October 10th. Instinet reissued a neutral rating and set a $100.00 price objective (up from $97.00) on shares of Celanese Corporation in a report on Friday, October 13th. KeyCorp raised their price objective on shares of Celanese Corporation from $106.00 to $116.00 and gave the stock an overweight rating in a report on Monday, October 16th. Finally, UBS AG raised their price objective on shares of Celanese Corporation from $100.00 to $107.00 and gave the stock a neutral rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $107.74.
Celanese Corporation (CE) traded down $0.91 on Tuesday, reaching $104.89. 548,000 shares of the company were exchanged, compared to its average volume of 892,279. The firm has a market cap of $14,350.29, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.60 and a beta of 1.31. Celanese Corporation has a 1-year low of $75.79 and a 1-year high of $109.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69.
Celanese Corporation (NYSE:CE) last released its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.01. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The business’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the business earned $1.67 EPS. analysts forecast that Celanese Corporation will post 7.37 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Monday, October 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, October 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.75%. Celanese Corporation’s payout ratio is currently 32.11%.
In related news, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total transaction of $264,700.00. Following the transaction, the director now directly owns 30,175 shares of the company’s stock, valued at $3,194,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher W. Jensen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the transaction, the chief financial officer now directly owns 60,086 shares in the company, valued at $6,289,802.48. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its position in Celanese Corporation by 24.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 206 shares in the last quarter. Barrett Asset Management LLC acquired a new stake in Celanese Corporation in the second quarter valued at approximately $142,000. Fiduciary Trust Co. acquired a new stake in Celanese Corporation in the second quarter valued at approximately $150,000. Toronto Dominion Bank lifted its stake in Celanese Corporation by 8.4% in the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock valued at $164,000 after acquiring an additional 134 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Celanese Corporation by 6.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,919 shares of the basic materials company’s stock valued at $182,000 after acquiring an additional 122 shares during the last quarter. 97.90% of the stock is currently owned by hedge funds and other institutional investors.
Celanese Corporation 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.
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