Celanese (NYSE:CE) PT Raised to $180.00

Celanese (NYSE:CEFree Report) had its price objective boosted by Piper Sandler from $170.00 to $180.00 in a report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

A number of other research firms have also recently commented on CE. Citigroup upped their price objective on Celanese from $150.00 to $167.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. Royal Bank of Canada upped their price objective on Celanese from $171.00 to $176.00 and gave the company an outperform rating in a research note on Monday, May 13th. JPMorgan Chase & Co. reaffirmed an underweight rating and issued a $160.00 price objective (up previously from $135.00) on shares of Celanese in a research note on Thursday, April 4th. Tudor, Pickering, Holt & Co. downgraded Celanese from a buy rating to a sell rating and set a $140.00 price objective for the company. in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company upped their price objective on Celanese from $180.00 to $195.00 and gave the company an overweight rating in a research note on Friday, March 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $156.78.

Read Our Latest Analysis on CE

Celanese Stock Down 0.5 %

CE stock opened at $156.53 on Friday. The stock has a market capitalization of $17.10 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. Celanese has a 12 month low of $103.23 and a 12 month high of $172.16. The firm has a 50-day moving average price of $160.56 and a 200-day moving average price of $150.05.

Celanese (NYSE:CEGet Free Report) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.17. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 earnings per share. As a group, equities research analysts anticipate that Celanese will post 11.35 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, April 29th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Friday, April 26th. Celanese’s dividend payout ratio (DPR) is 15.41%.

Insider Transactions at Celanese

In related news, SVP Mark Christopher Murray acquired 597 shares of Celanese stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $156.43 per share, with a total value of $93,388.71. Following the transaction, the senior vice president now directly owns 11,600 shares in the company, valued at approximately $1,814,588. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Mark Christopher Murray bought 597 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $156.43 per share, for a total transaction of $93,388.71. Following the acquisition, the senior vice president now directly owns 11,600 shares in the company, valued at $1,814,588. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott A. Richardson sold 2,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the transaction, the chief operating officer now owns 76,429 shares in the company, valued at $11,987,888.65. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Celanese

Several large investors have recently bought and sold shares of CE. Mather Group LLC. purchased a new stake in shares of Celanese during the 1st quarter valued at $31,000. Johnson Financial Group Inc. purchased a new stake in Celanese in the 4th quarter worth about $28,000. Desjardins Global Asset Management Inc. increased its holdings in Celanese by 142.1% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 108 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in Celanese by 100.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 94 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Celanese in the 1st quarter worth about $31,000. 98.87% of the stock is currently owned by institutional investors.

About Celanese

(Get Free Report)

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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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Analyst Recommendations for Celanese (NYSE:CE)

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