Celanese Corporation (NYSE:CE) – Stock analysts at KeyCorp raised their Q4 2017 earnings estimates for shares of Celanese Corporation in a research report issued to clients and investors on Tuesday. KeyCorp analyst M. Sison now forecasts that the basic materials company will post earnings of $1.82 per share for the quarter, up from their prior estimate of $1.80. KeyCorp has a “Overweight” rating and a $116.00 price objective on the stock. KeyCorp also issued estimates for Celanese Corporation’s FY2018 earnings at $8.10 EPS.
Several other research firms have also recently weighed in on CE. ValuEngine cut Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 6th. Nomura boosted their price target on Celanese Corporation from $97.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, October 10th. Instinet reissued a “neutral” rating and issued a $100.00 price target (up previously from $97.00) on shares of Celanese Corporation in a research note on Friday, October 13th. UBS AG boosted their price target on Celanese Corporation from $100.00 to $107.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Citigroup Inc. lowered their price target on Celanese Corporation from $122.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $107.74.
Celanese Corporation (NYSE:CE) opened at 105.60 on Thursday. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 18.51 and a beta of 1.31. The stock’s 50 day moving average is $103.28 and its 200 day moving average is $95.08. Celanese Corporation has a one year low of $70.64 and a one year high of $109.09.
Celanese Corporation (NYSE:CE) last announced its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.01. The business had revenue of $1.57 billion for 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%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CE. Neuberger Berman Group LLC bought a new stake in shares of Celanese Corporation during the first quarter valued at approximately $217,000. FMR LLC increased its position in shares of Celanese Corporation by 41.5% during the first quarter. FMR LLC now owns 1,714,126 shares of the basic materials company’s stock valued at $154,014,000 after purchasing an additional 502,497 shares during the period. Fifth Third Bancorp increased its position in shares of Celanese Corporation by 31.5% during the first quarter. Fifth Third Bancorp now owns 2,005 shares of the basic materials company’s stock valued at $180,000 after purchasing an additional 480 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Celanese Corporation during the first quarter valued at approximately $246,000. Finally, Morgan Stanley increased its position in shares of Celanese Corporation by 84.9% during the first quarter. Morgan Stanley now owns 395,279 shares of the basic materials company’s stock valued at $35,514,000 after purchasing an additional 181,484 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Monday, October 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, October 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.74%. Celanese Corporation’s dividend payout ratio (DPR) is presently 32.11%.
Celanese Corporation announced that its board has initiated a share repurchase plan on Monday, July 17th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 10.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
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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