Celanese Corporation (NYSE:CE) Stock Has Consensus Target Price of $61.56

Key Points

• Analyst consensus on Celanese is “Moderate Buy”: 10 of 18 analysts rate the stock Buy, seven Hold and one Sell. The average 12-month price target is $61.56.
• Recent target changes were mixed: Wells Fargo cut its target to $60, while Citigroup raised its target to $65 and maintained a Buy rating.
• Celanese beat quarterly EPS estimates, reporting $1.65 versus $1.56 expected, but revenue of $2.56 billion fell short of forecasts. Revenue increased 5.7% year over year.

Shares of Celanese Corporation (NYSE:CE - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eighteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $61.56.

CE has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on Celanese from $65.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, November 5th. Mizuho set a $50.00 target price on Celanese in a research report on Wednesday, August 5th. Deutsche Bank set a $50.00 price target on shares of Celanese in a report on Thursday, August 6th. BMO Capital Markets reiterated a "market perform" rating and issued a $58.00 price target on shares of Celanese in a report on Monday, November 9th. Finally, Citigroup raised their price target on shares of Celanese from $58.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, November 4th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Provenance Wealth Advisors LLC purchased a new stake in Celanese in the third quarter valued at $26,000. Fortitude Family Office LLC raised its stake in shares of Celanese by 757.7% during the 3rd quarter. Fortitude Family Office LLC now owns 669 shares of the basic materials company's stock valued at $30,000 after buying an additional 591 shares during the last quarter. Mather Group LLC. raised its stake in shares of Celanese by 6,975.0% during the 3rd quarter. Mather Group LLC. now owns 849 shares of the basic materials company's stock valued at $38,000 after buying an additional 837 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Celanese in the 2nd quarter valued at about $47,000. Finally, Allworth Financial LP acquired a new position in shares of Celanese in the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 98.87% of the company's stock.

Celanese Stock Performance

Shares of NYSE CE traded up $0.23 during mid-day trading on Friday, hitting $51.49. The stock had a trading volume of 1,251,440 shares, compared to its average volume of 1,603,022. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.74 and a current ratio of 1.26. The company has a 50 day moving average of $46.88 and a two-hundred day moving average of $51.52. Celanese has a twelve month low of $35.13 and a twelve month high of $70.70. The firm has a market cap of $5.65 billion, a PE ratio of 21.73, a PEG ratio of 0.35 and a beta of 0.72.

Celanese (NYSE:CE - Get Free Report) last issued its earnings results on Monday, November 2nd. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.62 billion. Celanese had a return on equity of 13.63% and a net margin of 2.66%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Research analysts predict that Celanese will post 6.13 EPS for the current fiscal year.

Celanese Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Tuesday, October 27th were paid a $0.03 dividend. The ex-dividend date was Tuesday, October 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Celanese's dividend payout ratio is presently 5.06%.

About Celanese

Celanese Corporation is a global chemicals and specialty materials company that develops and manufactures engineered polymers and acetyl-based products. Its materials are used in applications across industries including automotive, consumer goods, medical, industrial, paints and coatings, and adhesives. The company's portfolio includes engineered thermoplastics and other polymers, as well as acetyl products such as acetic acid, vinyl acetate monomer, and related emulsions and derivatives. These materials are used in products ranging from vehicle components and medical devices to packaging, coatings, and construction materials.

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