Celanese’s (CE) Market Perform Rating Reiterated at BMO Capital Markets

BMO Capital Markets reaffirmed their market perform rating on shares of Celanese (NYSE:CEFree Report) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $158.00 target price on the basic materials company’s stock.

Several other research analysts have also weighed in on CE. KeyCorp lifted their price objective on Celanese from $176.00 to $190.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Bank of America lowered their price objective on Celanese from $147.00 to $144.00 and set an underperform rating for the company in a research report on Monday. Barclays lowered Celanese from an overweight rating to an equal weight rating and set a $170.00 target price for the company. in a research report on Thursday, April 4th. Piper Sandler boosted their target price on Celanese from $170.00 to $180.00 and gave the company an overweight rating in a research report on Friday, May 17th. Finally, Royal Bank of Canada boosted their target price on Celanese from $171.00 to $176.00 and gave the company an outperform rating in a research report on Monday, May 13th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $161.41.

Check Out Our Latest Research Report on CE

Celanese Stock Down 1.1 %

Shares of CE opened at $144.14 on Tuesday. The company has a market capitalization of $15.74 billion, a PE ratio of 7.93, a PEG ratio of 0.58 and a beta of 1.34. Celanese has a 12 month low of $105.15 and a 12 month high of $172.16. The stock’s 50-day moving average price is $154.65 and its two-hundred day moving average price is $152.73. 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 (NYSE:CEGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.17. Celanese had a return on equity of 14.00% and a net margin of 18.60%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the company posted $2.01 EPS. The business’s quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts anticipate that Celanese will post 11.47 EPS for the current year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, April 29th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.94%. Celanese’s payout ratio is presently 15.41%.

Hedge Funds Weigh In On Celanese

Hedge funds and other institutional investors have recently modified their holdings of the business. Johnson Financial Group Inc. purchased a new position in Celanese in the fourth quarter valued at approximately $28,000. Asset Dedication LLC lifted its stake in Celanese by 180.0% in the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 144 shares during the last quarter. Desjardins Global Asset Management Inc. lifted its stake in Celanese by 142.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in Celanese by 100.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 94 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in Celanese in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.

About Celanese

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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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