Celanese Co. (NYSE:CE) – Equities research analysts at KeyCorp lifted their FY2018 earnings per share estimates for Celanese in a research note issued to investors on Tuesday. KeyCorp analyst M. Sison now forecasts that the basic materials company will post earnings of $8.65 per share for the year, up from their previous estimate of $8.40. KeyCorp currently has a “Overweight” rating and a $131.00 target price on the stock. KeyCorp also issued estimates for Celanese’s FY2019 earnings at $9.40 EPS.
Celanese (NYSE:CE) last released its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.86 by $0.12. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.49 billion. Celanese had a return on equity of 32.96% and a net margin of 13.73%. Celanese’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS.
Several other research firms also recently commented on CE. Robert W. Baird restated a “buy” rating and set a $130.00 price objective on shares of Celanese in a report on Monday, January 29th. Deutsche Bank restated a “buy” rating and set a $128.00 price objective on shares of Celanese in a report on Monday, January 29th. UBS raised their price objective on Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Citigroup raised their price objective on Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Celanese currently has an average rating of “Buy” and an average price target of $114.16.
Celanese stock traded down $1.29 on Thursday, reaching $99.09. The company’s stock had a trading volume of 184,229 shares, compared to its average volume of 679,664. The stock has a market cap of $14,135.83, a P/E ratio of 16.46, a P/E/G ratio of 1.36 and a beta of 1.29. Celanese has a one year low of $83.34 and a one year high of $114.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.79 and a quick ratio of 1.21.
Institutional investors have recently bought and sold shares of the company. Gateway Investment Advisers LLC boosted its position in shares of Celanese by 27.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 77,739 shares of the basic materials company’s stock worth $8,324,000 after purchasing an additional 16,668 shares in the last quarter. Macquarie Group Ltd. lifted its position in Celanese by 10.2% during the 3rd quarter. Macquarie Group Ltd. now owns 157,840 shares of the basic materials company’s stock worth $16,458,000 after acquiring an additional 14,650 shares during the period. Itau Unibanco Holding S.A. lifted its position in Celanese by 34.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 6,019 shares of the basic materials company’s stock worth $644,000 after acquiring an additional 1,527 shares during the period. Caxton Associates LP acquired a new stake in Celanese during the 3rd quarter worth about $532,000. Finally, Cetera Investment Advisers acquired a new stake in Celanese during the 3rd quarter worth about $499,000. 95.82% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Christopher W. Jensen sold 3,000 shares of Celanese stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the chief financial officer now directly owns 52,924 shares in the company, valued at approximately $5,821,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.86%. Celanese’s dividend payout ratio is presently 30.16%.
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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