Celanese Co. (NYSE:CE) Receives Average Rating of "Hold" from Brokerages

Celanese Co. (NYSE:CE - Get Free Report) has been assigned an average recommendation of "Hold" from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $61.89.

A number of research firms have commented on CE. Mizuho set a $45.00 price objective on shares of Celanese in a research note on Tuesday, April 15th. Piper Sandler reiterated an "underweight" rating and set a $48.00 price objective (down from $50.00) on shares of Celanese in a research note on Monday, April 7th. JPMorgan Chase & Co. dropped their target price on shares of Celanese from $92.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company increased their target price on shares of Celanese from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Citigroup dropped their target price on shares of Celanese from $58.00 to $52.00 and set a "neutral" rating on the stock in a report on Friday, April 4th.

Hedge Funds Weigh In On Celanese

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC boosted its position in shares of Celanese by 5.1% during the 4th quarter. Sanctuary Advisors LLC now owns 7,213 shares of the basic materials company's stock valued at $521,000 after purchasing an additional 351 shares in the last quarter. Twelve Points Wealth Management LLC boosted its position in shares of Celanese by 157.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 10,124 shares of the basic materials company's stock valued at $701,000 after purchasing an additional 6,197 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Celanese during the 4th quarter valued at about $555,000. New England Research & Management Inc. bought a new position in shares of Celanese during the 4th quarter valued at about $768,000. Finally, Sei Investments Co. boosted its position in shares of Celanese by 91.8% during the 4th quarter. Sei Investments Co. now owns 126,660 shares of the basic materials company's stock valued at $8,766,000 after purchasing an additional 60,621 shares in the last quarter. Institutional investors own 98.87% of the company's stock.

Celanese Price Performance

Shares of CE stock opened at $53.45 on Wednesday. The company has a market capitalization of $5.84 billion, a PE ratio of -3.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. The firm has a fifty day simple moving average of $48.53 and a 200-day simple moving average of $64.16. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. Celanese has a twelve month low of $36.29 and a twelve month high of $161.94.

Celanese (NYSE:CE - Get Free Report) last announced its earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.20. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The business's quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. Equities research analysts anticipate that Celanese will post 8.79 earnings per share for the current fiscal year.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, April 28th were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.22%. Celanese's dividend payout ratio is presently -0.79%.

About Celanese

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.