Celanese Co. (NYSE:CE) Receives $161.41 Average Price Target from Brokerages

by · The Markets Daily

Shares of Celanese Co. (NYSE:CE – Get Free Report) have been given a consensus rating of “Hold” by the seventeen analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $159.41.

Several analysts have recently weighed in on CE shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $160.00 price objective (up previously from $135.00) on shares of Celanese in a research report on Thursday, April 4th. Mizuho raised their price objective on shares of Celanese from $161.00 to $173.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. KeyCorp raised their price objective on shares of Celanese from $176.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. BMO Capital Markets reaffirmed a “market perform” rating and set a $158.00 target price on shares of Celanese in a report on Tuesday, June 11th. Finally, Piper Sandler increased their target price on shares of Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, May 17th.

View Our Latest Analysis on Celanese

Institutional Investors Weigh In On Celanese

Several institutional investors and hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of Celanese by 25.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 327 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 67 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Celanese by 7.6% in the 4th quarter. Benjamin Edwards Inc. now owns 979 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 69 shares during the period. Raleigh Capital Management Inc. lifted its position in shares of Celanese by 28.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 353 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 78 shares during the period. Wright Investors Service Inc. lifted its position in shares of Celanese by 0.6% in the 1st quarter. Wright Investors Service Inc. now owns 13,733 shares of the basic materials company’s stock worth $2,360,000 after purchasing an additional 78 shares during the period. Finally, Bleakley Financial Group LLC lifted its position in shares of Celanese by 2.8% in the 1st quarter. Bleakley Financial Group LLC now owns 2,866 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 79 shares during the period. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Stock Performance

Celanese stock opened at $134.89 on Friday. The firm’s 50 day simple moving average is $150.06 and its 200 day simple moving average is $152.68. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $14.73 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 0.54 and a beta of 1.34. Celanese has a 1-year low of $109.38 and a 1-year high of $172.16.

Celanese (NYSE:CE – Get 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, beating the consensus estimate of $1.91 by $0.17. The firm had revenue of $2.61 billion for 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 quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.01 EPS. As a group, analysts expect that Celanese will post 11.41 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, April 29th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, April 26th. Celanese’s dividend payout ratio (DPR) is presently 15.41%.

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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