Celanese (NYSE:CE) had its price target hoisted by Morgan Stanley from $81.00 to $95.00 in a report published on Thursday, BenzingaRatingsTable reports. They currently have an equal weight rating on the basic materials company’s stock.

Several other research analysts have also recently commented on the stock. Wells Fargo & Co cut shares of Celanese from an overweight rating to an equal weight rating and set a $90.00 price target for the company. in a report on Wednesday, April 29th. Cfra upped their target price on shares of Celanese from $81.00 to $86.00 and gave the company a hold rating in a report on Tuesday, April 28th. SunTrust Banks lowered their target price on shares of Celanese from $110.00 to $85.00 and set a hold rating for the company in a report on Wednesday, April 29th. UBS Group upped their target price on shares of Celanese from $88.00 to $91.00 and gave the company a buy rating in a report on Tuesday, April 28th. Finally, BMO Capital Markets lowered their target price on shares of Celanese from $100.00 to $92.00 and set a market perform rating for the company in a report on Thursday, April 30th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Celanese presently has a consensus rating of Buy and an average price target of $105.95.

NYSE CE opened at $97.20 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.20 and a debt-to-equity ratio of 1.11. Celanese has a 52 week low of $52.70 and a 52 week high of $128.88. The stock has a market capitalization of $11.49 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 5.28 and a beta of 1.37. The firm has a 50 day moving average of $88.67 and a two-hundred day moving average of $90.07.

Celanese (NYSE:CE) last posted its quarterly earnings results on Tuesday, July 28th. The basic materials company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.05 by $0.25. Celanese had a net margin of 11.13% and a return on equity of 33.49%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business posted $2.38 EPS. The firm’s revenue was down 25.1% on a year-over-year basis. On average, equities research analysts expect that Celanese will post 6.73 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Monday, July 27th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $2.48 dividend on an annualized basis and a yield of 2.55%. Celanese’s payout ratio is currently 26.02%.

A number of institutional investors have recently made changes to their positions in the business. Seascape Capital Management increased its holdings in shares of Celanese by 0.7% in the 1st quarter. Seascape Capital Management now owns 18,242 shares of the basic materials company’s stock valued at $1,339,000 after purchasing an additional 119 shares in the last quarter. Ropes Wealth Advisors LLC increased its holdings in shares of Celanese by 3.2% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,575 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 140 shares in the last quarter. Cigna Investments Inc. New increased its holdings in shares of Celanese by 4.6% in the 1st quarter. Cigna Investments Inc. New now owns 3,426 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 150 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Celanese by 1.6% in the 2nd quarter. CIBC Asset Management Inc now owns 10,572 shares of the basic materials company’s stock valued at $913,000 after purchasing an additional 162 shares in the last quarter. Finally, Palisade Asset Management LLC increased its holdings in shares of Celanese by 3.0% in the 1st quarter. Palisade Asset Management LLC now owns 5,753 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

About Celanese

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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