Celanese (NYSE:CE) Raised to “Hold” at ValuEngine

Share on StockTwits

ValuEngine upgraded shares of Celanese (NYSE:CE) from a sell rating to a hold rating in a research report report published on Friday, November 1st, ValuEngine reports.

CE has been the topic of a number of other reports. Citigroup set a $122.00 target price on Celanese and gave the company a buy rating in a research report on Monday, July 15th. Alembic Global Advisors set a $115.00 target price on Celanese and gave the company a hold rating in a research report on Monday, October 21st. Barclays upped their target price on Celanese from $126.00 to $135.00 and gave the company an overweight rating in a research report on Wednesday, October 23rd. Deutsche Bank upped their target price on Celanese from $122.00 to $124.00 and gave the company a hold rating in a research report on Wednesday, October 23rd. Finally, UBS Group upped their target price on Celanese from $128.00 to $138.00 and gave the company a buy rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $120.89.

Celanese stock traded up $1.57 during midday trading on Friday, reaching $127.31. 867,537 shares of the company were exchanged, compared to its average volume of 1,017,396. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.21 and a current ratio of 1.85. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.82 and a beta of 1.36. The firm’s 50-day simple moving average is $121.88 and its 200-day simple moving average is $111.14. Celanese has a 1 year low of $82.91 and a 1 year high of $128.88.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $2.53 EPS for the quarter, beating the consensus estimate of $2.50 by $0.03. Celanese had a return on equity of 38.21% and a net margin of 13.85%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business earned $2.96 EPS. The firm’s revenue was down 10.4% on a year-over-year basis. On average, analysts forecast that Celanese will post 9.7 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, October 25th. Celanese’s dividend payout ratio is 22.55%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Celanese during the third quarter valued at $25,000. Synovus Financial Corp lifted its stake in Celanese by 162.1% in the 3rd quarter. Synovus Financial Corp now owns 249 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 154 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Celanese by 75.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 256 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in Celanese in the 2nd quarter worth about $28,000. Finally, CSat Investment Advisory L.P. lifted its stake in Celanese by 112.4% in the 2nd quarter. CSat Investment Advisory L.P. now owns 480 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 254 shares in the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

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.

Read More: What is a Special Dividend?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Celanese (NYSE:CE)

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.