Shares of Celanese Co. (NYSE:CE – Get Rating) have earned an average recommendation of “Buy” from the seventeen research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $188.40.
CE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $175.00 price objective (down previously from $185.00) on shares of Celanese in a research report on Sunday, February 20th. Zacks Investment Research cut shares of Celanese from a “buy” rating to a “hold” rating and set a $167.00 price target on the stock. in a research report on Monday, December 20th. Morgan Stanley boosted their price target on shares of Celanese from $157.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 11th. StockNews.com upgraded shares of Celanese from a “hold” rating to a “buy” rating in a research report on Thursday, March 24th. Finally, Royal Bank of Canada boosted their price target on shares of Celanese from $198.00 to $206.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 1st.
CE stock opened at $145.17 on Friday. Celanese has a twelve month low of $132.26 and a twelve month high of $176.50. The company has a quick ratio of 0.91, a current ratio of 1.52 and a debt-to-equity ratio of 0.70. The stock has a market cap of $15.68 billion, a P/E ratio of 8.57 and a beta of 1.30. The business’s 50-day moving average price is $144.55 and its 200-day moving average price is $156.76.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 8th. Investors of record on Tuesday, February 22nd were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, February 18th. Celanese’s dividend payout ratio (DPR) is presently 16.06%.
In other news, SVP Thomas Francis Kelly purchased 1,800 shares of the stock in a transaction dated Friday, February 25th. The shares were acquired at an average cost of $141.74 per share, for a total transaction of $255,132.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in Celanese by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,097,691 shares of the basic materials company’s stock worth $315,995,000 after purchasing an additional 61,561 shares in the last quarter. Geode Capital Management LLC boosted its stake in Celanese by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,052,472 shares of the basic materials company’s stock worth $344,931,000 after purchasing an additional 24,520 shares in the last quarter. LSV Asset Management boosted its stake in Celanese by 5.3% in the 3rd quarter. LSV Asset Management now owns 1,739,569 shares of the basic materials company’s stock worth $262,048,000 after purchasing an additional 86,980 shares in the last quarter. Norges Bank acquired a new stake in Celanese in the 4th quarter worth approximately $223,876,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Celanese in the 4th quarter worth approximately $200,281,000. Institutional investors own 95.14% of the company’s stock.
Celanese Company Profile (Get Rating)
Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities. The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.
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