Celanese Co. (NYSE:CE - Get Free Report) shares saw an uptick in trading volume on Friday . 2,097,268 shares changed hands during mid-day trading, an increase of 88% from the previous session's volume of 1,113,487 shares.The stock last traded at $67.52 and had previously closed at $67.03.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the company. Jefferies Financial Group dropped their target price on Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Barclays dropped their price objective on shares of Celanese from $101.00 to $88.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 19th. Robert W. Baird decreased their target price on shares of Celanese from $150.00 to $110.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company downgraded Celanese from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $165.00 to $115.00 in a research report on Tuesday, November 5th. Finally, Vertical Research cut Celanese from a "hold" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $110.50.
Get Our Latest Report on CE
Celanese Stock Performance
The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37. The firm's 50-day moving average price is $93.38 and its two-hundred day moving average price is $119.79. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.72 and a beta of 1.17.
Celanese (NYSE:CE - Get Free Report) last posted its earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing analysts' consensus estimates of $2.85 by ($0.41). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the company earned $2.50 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts expect that Celanese Co. will post 8.38 EPS for the current fiscal year.
Celanese Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.10%. Celanese's dividend payout ratio is presently 28.17%.
Hedge Funds Weigh In On Celanese
Several institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Celanese by 20.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 585 shares of the basic materials company's stock worth $79,000 after buying an additional 99 shares during the period. Rosenberg Matthew Hamilton increased its position in shares of Celanese by 13.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 839 shares of the basic materials company's stock valued at $110,000 after purchasing an additional 99 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Celanese by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 27,552 shares of the basic materials company's stock valued at $3,716,000 after purchasing an additional 100 shares in the last quarter. DT Investment Partners LLC lifted its position in shares of Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company's stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Celanese by 6.8% during the second quarter. Ritholtz Wealth Management now owns 1,663 shares of the basic materials company's stock worth $224,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company's stock.
About Celanese
(
Get Free Report)
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials 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.
See Also
Before you consider Celanese, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Celanese wasn't on the list.
While Celanese currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
