Shares of Celanese Co. (NYSE:CE) have been assigned a consensus rating of “Hold” from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $117.62.
A number of research firms recently commented on CE. Robert W. Baird upped their price objective on shares of Celanese from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Nomura lowered their price objective on shares of Celanese from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Alembic Global Advisors upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $95.00 to $115.00 in a research report on Monday, April 29th. BMO Capital Markets upped their price objective on shares of Celanese from $115.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Finally, Vertical Research cut shares of Celanese from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Celanese by 61.5% during the 4th 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 during the last quarter. Holocene Advisors LP acquired a new position in shares of Celanese during the 2nd quarter worth about $49,881,000. Nuveen Asset Management LLC boosted its stake in shares of Celanese by 121.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 643,791 shares of the basic materials company’s stock worth $69,400,000 after buying an additional 353,468 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Celanese by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,892,634 shares of the basic materials company’s stock worth $186,634,000 after buying an additional 323,714 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Celanese by 578.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 232,892 shares of the basic materials company’s stock worth $24,776,000 after buying an additional 198,562 shares during the last quarter. 98.32% of the stock is owned by hedge funds and other institutional investors.
Celanese (NYSE:CE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.38 EPS for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.02. Celanese had a net margin of 15.52% and a return on equity of 38.56%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. On average, analysts forecast that Celanese will post 10.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, July 25th. Celanese’s payout ratio is presently 22.55%.
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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