Celanese (CE) Raised to “Buy” at UBS

UBS upgraded shares of Celanese (NYSE:CE) from a neutral rating to a buy rating in a research note released on Wednesday morning, 247wallst.com reports. The firm currently has $113.00 price target on the basic materials company’s stock, up from their prior price target of $111.10.

A number of other equities analysts also recently commented on the company. KeyCorp boosted their price objective on Celanese from $128.00 to $131.00 and gave the stock an overweight rating in a research report on Wednesday, March 21st. Wells Fargo reissued a market perform rating and set a $110.00 price objective (up from $104.00) on shares of Celanese in a research report on Wednesday, January 17th. Citigroup boosted their price objective on Celanese from $123.00 to $128.00 and gave the stock a buy rating in a research report on Monday, January 29th. Deutsche Bank reissued a buy rating and set a $128.00 price objective on shares of Celanese in a research report on Monday, January 29th. Finally, Zacks Investment Research raised Celanese from a hold rating to a buy rating and set a $117.00 price objective for the company in a research report on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $114.96.

Shares of NYSE:CE opened at $114.07 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.28 and a current ratio of 1.88. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.38 and a beta of 1.31. Celanese has a 1 year low of $84.22 and a 1 year high of $115.48.



Celanese (NYSE:CE) last announced its quarterly earnings data on Monday, April 16th. The basic materials company reported $2.79 EPS for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.46. Celanese had a return on equity of 35.22% and a net margin of 15.69%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. analysts anticipate that Celanese will post 9.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Monday, April 30th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.89%. This is an increase from Celanese’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, April 27th. Celanese’s dividend payout ratio is 28.76%.

A number of institutional investors and hedge funds have recently made changes to their positions in CE. Millennium Management LLC boosted its holdings in Celanese by 231.1% in the first quarter. Millennium Management LLC now owns 1,138,489 shares of the basic materials company’s stock valued at $114,088,000 after purchasing an additional 794,690 shares in the last quarter. BlackRock Inc. boosted its holdings in Celanese by 4.8% in the first quarter. BlackRock Inc. now owns 7,450,478 shares of the basic materials company’s stock valued at $746,612,000 after purchasing an additional 341,770 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Celanese by 37.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,114,498 shares of the basic materials company’s stock valued at $119,340,000 after purchasing an additional 302,015 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Celanese by 10.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock valued at $238,797,000 after purchasing an additional 212,134 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Celanese by 57.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 574,051 shares of the basic materials company’s stock valued at $57,527,000 after purchasing an additional 209,102 shares in the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

Analyst Recommendations for Celanese (NYSE:CE)

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