Celanese (CE) Price Target Increased to $125.00 by Analysts at Robert W. Baird

Celanese (NYSE:CE) had its price objective boosted by Robert W. Baird from $120.00 to $125.00 in a report released on Wednesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the basic materials company’s stock.

A number of other research firms have also recently commented on CE. UBS Group set a $126.00 price objective on shares of Celanese and gave the company a buy rating in a research report on Tuesday, January 29th. Zacks Investment Research reaffirmed a hold rating on shares of Celanese in a research note on Monday, December 31st. BMO Capital Markets lowered shares of Celanese from an outperform rating to a market perform rating and set a $107.00 target price for the company. in a research note on Tuesday, January 8th. Barclays upped their target price on shares of Celanese from $120.00 to $126.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, KeyCorp reduced their target price on shares of Celanese from $145.00 to $125.00 and set an overweight rating for the company in a research note on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Celanese has an average rating of Hold and an average target price of $118.35.

CE opened at $108.56 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.58 and a quick ratio of 1.03. Celanese has a 12 month low of $82.91 and a 12 month high of $119.29. The firm has a market capitalization of $13.91 billion, a P/E ratio of 9.87, a PEG ratio of 1.03 and a beta of 1.32.

Celanese (NYSE:CE) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $2.62 EPS for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.13. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company earned $2.79 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Celanese will post 10.54 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be paid a $0.62 dividend. The ex-dividend date is Friday, April 26th. This is a positive change from Celanese’s previous quarterly dividend of $0.54. This represents a $2.48 dividend on an annualized basis and a yield of 2.28%. Celanese’s dividend payout ratio is presently 19.64%.

A number of hedge funds and other institutional investors have recently made changes to their positions in CE. Acima Private Wealth LLC acquired a new position in shares of Celanese during the 4th quarter worth about $31,000. Baystate Wealth Management LLC boosted its stake in shares of Celanese by 200.9% during the 4th quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock worth $32,000 after buying an additional 221 shares during the last quarter. Pearl River Capital LLC acquired a new position in shares of Celanese during the 4th quarter worth about $36,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Celanese during the 4th quarter worth about $37,000. Finally, Investors Research Corp acquired a new position in shares of Celanese during the 1st quarter worth about $41,000. 96.45% of the stock is owned by hedge funds and other institutional investors.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

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Analyst Recommendations for Celanese (NYSE:CE)

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