KeyCorp Lowers Celanese (CE) Price Target to $125.00

Celanese (NYSE:CE) had its price objective decreased by KeyCorp from $145.00 to $125.00 in a report published on Wednesday, January 30th, The Fly reports. KeyCorp currently has an overweight rating on the basic materials company’s stock. KeyCorp also issued estimates for Celanese’s Q1 2019 earnings at $2.30 EPS, Q2 2019 earnings at $2.75 EPS, Q3 2019 earnings at $2.90 EPS, Q4 2019 earnings at $2.45 EPS, FY2019 earnings at $10.40 EPS and FY2020 earnings at $11.50 EPS.

A number of other research analysts also recently commented on the company. Stifel Nicolaus assumed coverage on Celanese in a research note on Monday, December 10th. They issued a hold rating and a $100.00 price target for the company. UBS Group set a $126.00 target price on Celanese and gave the company a buy rating in a research report on Tuesday, January 29th. Zacks Investment Research reiterated a hold rating on shares of Celanese in a report on Monday, December 31st. Royal Bank of Canada reiterated a buy rating and issued a $118.00 target price on shares of Celanese in a report on Thursday, December 20th. Finally, BMO Capital Markets cut Celanese from an outperform rating to a market perform rating and set a $107.00 target price on the stock. in a report on Tuesday, January 8th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Celanese has a consensus rating of Hold and a consensus price target of $115.24.

Shares of Celanese stock opened at $98.82 on Wednesday. Celanese has a 1 year low of $82.91 and a 1 year high of $119.29. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.62 and a quick ratio of 1.03. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 0.92 and a beta of 1.31.

Celanese (NYSE:CE) last posted its earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.02). Celanese had a return on equity of 40.37% and a net margin of 16.87%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $1.98 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Celanese will post 10.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, February 15th. Celanese’s payout ratio is 19.64%.

Large investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in Celanese by 29.0% during the fourth quarter. BlackRock Inc. now owns 9,467,199 shares of the basic materials company’s stock worth $851,766,000 after buying an additional 2,127,883 shares in the last quarter. Geode Capital Management LLC grew its holdings in Celanese by 61.5% during the fourth quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock worth $163,756,000 after buying an additional 694,491 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Celanese by 30.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,454,977 shares of the basic materials company’s stock worth $220,874,000 after buying an additional 569,316 shares in the last quarter. Northern Trust Corp grew its holdings in Celanese by 74.0% during the fourth quarter. Northern Trust Corp now owns 1,337,518 shares of the basic materials company’s stock worth $120,336,000 after buying an additional 568,909 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Celanese by 105.7% during the third quarter. Deutsche Bank AG now owns 944,890 shares of the basic materials company’s stock worth $107,712,000 after buying an additional 485,564 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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