Celanese (NYSE:CE) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Celanese (NYSE:CEGet Rating) from a hold rating to a buy rating in a report published on Tuesday morning.

CE has been the subject of several other research reports. Wells Fargo & Company decreased their target price on Celanese from $200.00 to $180.00 and set an overweight rating for the company in a research note on Monday, June 27th. Deutsche Bank Aktiengesellschaft decreased their price target on Celanese from $175.00 to $140.00 and set a buy rating for the company in a research report on Tuesday, August 2nd. Jefferies Financial Group lowered Celanese from a buy rating to a hold rating in a research report on Thursday, June 16th. Barclays decreased their price target on Celanese from $190.00 to $165.00 and set an overweight rating for the company in a research report on Tuesday, August 2nd. Finally, Citigroup lowered Celanese to a neutral rating in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $158.80.

Celanese Price Performance

Shares of CE opened at $99.39 on Tuesday. The stock’s fifty day moving average is $112.28 and its 200-day moving average is $130.58. Celanese has a one year low of $98.43 and a one year high of $176.50. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 5.54 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.72.

Celanese (NYSE:CEGet Rating) last announced its earnings results on Thursday, July 28th. The basic materials company reported $4.99 earnings per share for the quarter, beating the consensus estimate of $4.56 by $0.43. Celanese had a return on equity of 46.75% and a net margin of 20.55%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the business posted $5.02 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Equities analysts anticipate that Celanese will post 18.18 EPS for the current year.

Celanese Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 8th. Shareholders of record on Monday, July 25th were given a $0.68 dividend. The ex-dividend date was Friday, July 22nd. This represents a $2.72 annualized dividend and a yield of 2.74%. Celanese’s payout ratio is 15.16%.

Hedge Funds Weigh In On Celanese

Several institutional investors have recently bought and sold shares of CE. Parkside Financial Bank & Trust raised its position in shares of Celanese by 92.6% during the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 87 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Celanese by 830.0% in the first quarter. Clearstead Advisors LLC now owns 186 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 166 shares during the last quarter. Ronald Blue Trust Inc. bought a new stake in Celanese in the second quarter valued at about $27,000. Clear Street Markets LLC increased its holdings in Celanese by 415.9% in the second quarter. Clear Street Markets LLC now owns 227 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Finally, Herold Advisors Inc. bought a new stake in Celanese in the first quarter valued at about $35,000. Institutional investors own 93.34% of the company’s stock.

About Celanese

(Get Rating)

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through three segments: Engineered Materials, Acetate Tow, and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.

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Analyst Recommendations for Celanese (NYSE:CE)

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