Celanese (NYSE:CE) Shares Gap Up on Strong Earnings

Celanese Co. (NYSE:CE - Get Free Report) shares gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $44.77, but opened at $47.62. Celanese shares last traded at $48.78, with a volume of 947,259 shares.

The basic materials company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The firm's quarterly revenue was down 8.5% on a year-over-year basis.

Celanese Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Monday, April 28th. Celanese's dividend payout ratio (DPR) is -0.86%.

Wall Street Analysts Forecast Growth

CE has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on Celanese from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday. Morgan Stanley cut their price target on shares of Celanese from $100.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on shares of Celanese from $92.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Evercore ISI cut their target price on Celanese from $85.00 to $75.00 and set an "in-line" rating on the stock in a research report on Monday, March 24th. Finally, Vertical Research raised Celanese from a "sell" rating to a "hold" rating and set a $66.00 target price for the company in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $61.89.

Institutional Trading of Celanese

Large investors have recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Celanese in the 4th quarter valued at about $25,000. UMB Bank n.a. lifted its holdings in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 194 shares in the last quarter. State of Wyoming grew its position in shares of Celanese by 122.5% in the fourth quarter. State of Wyoming now owns 485 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 267 shares during the last quarter. Mather Group LLC. increased its stake in shares of Celanese by 127.0% during the 1st quarter. Mather Group LLC. now owns 622 shares of the basic materials company's stock worth $35,000 after purchasing an additional 348 shares in the last quarter. Finally, CKW Financial Group raised its position in shares of Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock worth $37,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 98.87% of the company's stock.

Celanese Trading Down 0.9 %

The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The business has a 50 day moving average of $48.56 and a 200-day moving average of $65.64. The stock has a market cap of $5.60 billion, a PE ratio of -3.68, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09.

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.