Celanese (NYSE:CE) Sets New 52-Week Low - Time to Sell?

Celanese Co. (NYSE:CE - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $48.93 and last traded at $48.95, with a volume of 1387205 shares. The stock had previously closed at $50.94.

Analyst Upgrades and Downgrades

CE has been the topic of a number of analyst reports. Citigroup raised Celanese to a "neutral" rating and lifted their price objective for the company from $73.00 to $76.00 in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on Celanese from $85.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada cut Celanese from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $84.00 to $56.00 in a research report on Thursday, February 20th. StockNews.com lowered shares of Celanese from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Finally, Bank of America lowered their price target on shares of Celanese from $88.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Three research 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. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $72.31.

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Celanese Stock Up 0.1 %

The firm has a market cap of $6.04 billion, a PE ratio of -3.97, a P/E/G ratio of 1.05 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The firm's 50 day moving average is $65.28 and its 200-day moving average is $92.47.

Celanese (NYSE:CE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.20. The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. As a group, equities research analysts expect that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Tuesday, February 25th. Celanese's dividend payout ratio is currently -0.86%.

Institutional Investors Weigh In On Celanese

Institutional investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC lifted its stake in shares of Celanese by 0.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company's stock valued at $2,954,000 after purchasing an additional 145 shares in the last quarter. Neumann Capital Management LLC boosted its position in Celanese by 5.3% in the 3rd quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company's stock valued at $408,000 after buying an additional 150 shares during the last quarter. Focus Partners Wealth boosted its holdings in Celanese by 3.9% in the fourth quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company's stock valued at $291,000 after purchasing an additional 156 shares during the last quarter. Freedom Investment Management Inc. grew its position in shares of Celanese by 3.2% during the third quarter. Freedom Investment Management Inc. now owns 5,259 shares of the basic materials company's stock worth $715,000 after buying an additional 161 shares in the last quarter. Finally, United Capital Financial Advisors LLC increased its position in shares of Celanese by 2.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 6,167 shares of the basic materials company's stock worth $427,000 after purchasing an additional 172 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Celanese Company Profile

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.