Brokerages Set Celanese Co. (NYSE:CE) Target Price at $130.74
Shares of Celanese Co. (NYSE:CE) have earned a consensus rating of “Buy” from the twenty-three brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $130.74.
Several brokerages have recently commented on CE. Zacks Investment Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Tuesday, March 30th. BMO Capital Markets raised shares of Celanese from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $119.00 to $155.00 in a research note on Tuesday, January 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Celanese in a research note on Tuesday. Morgan Stanley raised their target price on shares of Celanese from $130.00 to $150.00 and gave the company an “equal weight” rating in a research note on Thursday, April 1st. Finally, Citigroup decreased their target price on shares of Celanese from $152.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, February 1st.
Shares of NYSE:CE opened at $151.00 on Monday. Celanese has a 52-week low of $69.69 and a 52-week high of $155.62. The firm has a fifty day moving average of $145.10 and a 200 day moving average of $130.20. The firm has a market capitalization of $17.24 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 2.43 and a beta of 1.21. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 1.15.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 23rd. Shareholders of record on Tuesday, February 9th were paid a $0.68 dividend. This is a boost from Celanese’s previous quarterly dividend of $0.62. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, February 8th. Celanese’s dividend payout ratio (DPR) is presently 28.54%.
In other Celanese news, Director John K. Wulff sold 750 shares of Celanese stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $133.55, for a total value of $100,162.50. Following the completion of the transaction, the director now directly owns 17,221 shares of the company’s stock, valued at approximately $2,299,864.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.69% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CE. Norges Bank purchased a new position in shares of Celanese during the 4th quarter worth about $207,356,000. Principal Financial Group Inc. boosted its position in Celanese by 296.1% in the 4th quarter. Principal Financial Group Inc. now owns 713,547 shares of the basic materials company’s stock valued at $92,718,000 after buying an additional 533,403 shares during the period. Zacks Investment Management boosted its position in Celanese by 207.7% in the 4th quarter. Zacks Investment Management now owns 333,328 shares of the basic materials company’s stock valued at $43,313,000 after buying an additional 224,997 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Celanese in the 4th quarter valued at about $20,409,000. Finally, Calamos Advisors LLC purchased a new stake in Celanese in the 4th quarter valued at about $19,956,000. 97.51% of the stock is owned by hedge funds and other institutional investors.
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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