Celanese Co. (CE) Given Average Recommendation of “Buy” by Analysts

Shares of Celanese Co. (NYSE:CE) have been assigned a consensus rating of “Buy” from the sixteen brokerages that are currently covering the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $83.75.

CE has been the subject of several research analyst reports. Robert W. Baird initiated coverage on shares of Celanese in a report on Friday, February 17th. They set an “outperform” rating and a $105.00 target price for the company. Goldman Sachs Group Inc upgraded shares of Celanese from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $83.00 to $92.00 in a research note on Wednesday, November 30th. Citigroup Inc upgraded shares of Celanese from a “neutral” rating to a “buy” rating in a research note on Thursday, February 2nd. Barclays PLC lifted their price objective on shares of Celanese from $85.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Finally, Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Thursday, January 12th.

In other Celanese news, insider Kevin S. Oliver sold 2,327 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $87.74, for a total transaction of $204,170.98. Following the sale, the insider now directly owns 19,130 shares of the company’s stock, valued at approximately $1,678,466.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.49% of the company’s stock.

Several large investors have recently bought and sold shares of CE. Wells Fargo & Company MN raised its stake in Celanese by 17.4% in the third quarter. Wells Fargo & Company MN now owns 3,785,358 shares of the company’s stock worth $251,954,000 after buying an additional 561,337 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Celanese by 38.3% in the third quarter. Bank of New York Mellon Corp now owns 2,968,073 shares of the company’s stock worth $197,555,000 after buying an additional 822,279 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Celanese during the fourth quarter worth approximately $148,488,000. AQR Capital Management LLC raised its stake in Celanese by 10.8% in the fourth quarter. AQR Capital Management LLC now owns 1,884,215 shares of the company’s stock worth $148,363,000 after buying an additional 183,238 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in Celanese by 4.1% in the third quarter. BlackRock Fund Advisors now owns 1,614,517 shares of the company’s stock worth $107,462,000 after buying an additional 63,316 shares in the last quarter. 98.08% of the stock is currently owned by institutional investors.

Celanese (NYSE:CE) traded down 0.05% during mid-day trading on Monday, hitting $91.89. 239,303 shares of the stock traded hands. The company has a 50 day moving average price of $88.88 and a 200-day moving average price of $77.58. Celanese has a one year low of $60.59 and a one year high of $93.05. The stock has a market capitalization of $12.95 billion, a PE ratio of 14.88 and a beta of 1.23.

Celanese (NYSE:CE) last announced its earnings results on Wednesday, February 1st. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.51 by $0.01. The business earned $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Celanese had a net margin of 16.70% and a return on equity of 31.09%. Celanese’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities analysts anticipate that Celanese will post $7.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Tuesday, February 21st were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Thursday, February 16th. Celanese’s payout ratio is 23.38%.

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About Celanese

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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