Celanese Corporation (NYSE:CE) Receives $55.44 Consensus PT from Brokerages
by Kim Johansen · The Markets DailyCelanese Corporation (NYSE:CE – Get Free Report) has earned a consensus rating of “Hold” from the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $55.4444.
CE has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Celanese from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Thursday, February 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Celanese in a report on Wednesday, January 21st. Zacks Research downgraded Celanese from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Morgan Stanley initiated coverage on Celanese in a report on Tuesday, January 20th. They set an “equal weight” rating and a $50.00 target price on the stock. Finally, Citigroup increased their price target on Celanese from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 15th.
Check Out Our Latest Stock Report on CE
Insider Buying and Selling
In related news, CFO Chuck Kyrish acquired 5,000 shares of the stock in a transaction dated Tuesday, December 9th. The stock was bought at an average price of $41.03 per share, with a total value of $205,150.00. Following the completion of the transaction, the chief financial officer directly owned 10,914 shares of the company’s stock, valued at approximately $447,801.42. The trade was a 84.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.
Hedge Funds Weigh In On Celanese
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Celanese by 41.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,450 shares of the basic materials company’s stock valued at $1,842,000 after purchasing an additional 9,543 shares during the period. NewEdge Advisors LLC raised its position in Celanese by 265.2% in the 1st quarter. NewEdge Advisors LLC now owns 5,032 shares of the basic materials company’s stock valued at $286,000 after buying an additional 3,654 shares during the last quarter. Blue Trust Inc. raised its position in Celanese by 7.0% in the 2nd quarter. Blue Trust Inc. now owns 3,089 shares of the basic materials company’s stock valued at $171,000 after buying an additional 201 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Celanese by 2.9% in the 2nd quarter. Yousif Capital Management LLC now owns 33,208 shares of the basic materials company’s stock valued at $1,837,000 after acquiring an additional 935 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in Celanese by 27.9% during the 2nd quarter. Harbour Investments Inc. now owns 1,165 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 254 shares during the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.
Celanese Stock Performance
Shares of Celanese stock opened at $58.82 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.63 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $46.13 and a 200 day simple moving average of $43.94. Celanese has a fifty-two week low of $35.13 and a fifty-two week high of $70.51. The firm has a market cap of $6.44 billion, a P/E ratio of -2.08 and a beta of 1.12.
Celanese Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, February 24th. Celanese’s dividend payout ratio is presently -0.42%.
Celanese Company Profile
Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.
In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.
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