Celanese Corporation (NYSE:CE) had its price target hoisted by KeyCorp from $106.00 to $116.00 in a research report released on Monday, October 16th. KeyCorp currently has an overweight rating on the basic materials company’s stock. KeyCorp also issued estimates for Celanese Corporation’s Q4 2017 earnings at $1.82 EPS and FY2018 earnings at $8.10 EPS.
CE has been the subject of a number of other reports. ValuEngine lowered shares of Celanese Corporation from a strong-buy rating to a buy rating in a research note on Friday, October 6th. BidaskClub lowered shares of Celanese Corporation from a buy rating to a hold rating in a research note on Monday, July 31st. UBS AG reaffirmed a neutral rating and issued a $100.00 price target (up from $95.00) on shares of Celanese Corporation in a research note on Tuesday, July 25th. Cowen and Company reiterated an outperform rating and issued a $115.00 target price (up from $100.00) on shares of Celanese Corporation in a report on Wednesday, August 9th. Finally, Nomura boosted their target price on shares of Celanese Corporation from $97.00 to $100.00 and gave the stock a neutral rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Celanese Corporation currently has a consensus rating of Buy and a consensus price target of $107.74.
Celanese Corporation (NYSE CE) traded down 0.53% on Monday, reaching $105.03. The company’s stock had a trading volume of 763,828 shares. The company has a 50 day moving average of $103.77 and a 200 day moving average of $95.39. The firm has a market capitalization of $14.35 billion, a price-to-earnings ratio of 18.41 and a beta of 1.31. Celanese Corporation has a 52 week low of $70.64 and a 52 week high of $109.11.
Celanese Corporation (NYSE:CE) last posted its earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.01. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. Celanese Corporation’s revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 EPS. On average, analysts forecast that Celanese Corporation will post $7.37 earnings per share for the current year.
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Celanese Corporation declared that its Board of Directors has approved a share buyback plan on Monday, July 17th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 10.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Monday, October 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, October 27th. Celanese Corporation’s payout ratio is presently 32.11%.
In related news, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total transaction of $264,700.00. Following the transaction, the director now directly owns 30,175 shares of the company’s stock, valued at $3,194,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its position in Celanese Corporation by 24.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 206 shares in the last quarter. Barrett Asset Management LLC bought a new stake in Celanese Corporation in the second quarter worth approximately $142,000. Fiduciary Trust Co. bought a new stake in Celanese Corporation in the second quarter worth approximately $150,000. Toronto Dominion Bank grew its position in Celanese Corporation by 8.4% in the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after acquiring an additional 134 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Celanese Corporation by 6.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,919 shares of the basic materials company’s stock worth $182,000 after acquiring an additional 122 shares in the last quarter. 97.12% of the stock is owned by institutional investors.
Celanese Corporation Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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