Celanese (NYSE:CE) PT Raised to $104.00 at Truist Financial

Celanese (NYSE:CE) had its target price upped by Truist Financial from $85.00 to $104.00 in a report released on Monday morning, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird increased their target price on shares of Celanese from $100.00 to $108.00 and gave the stock an outperform rating in a research report on Thursday, July 30th. Deutsche Bank upped their target price on Celanese from $100.00 to $105.00 and gave the stock a hold rating in a research report on Thursday, July 30th. Alembic Global Advisors upgraded Celanese from a neutral rating to an overweight rating and set a $110.00 price target for the company in a report on Monday, July 27th. ValuEngine raised shares of Celanese from a sell rating to a hold rating in a research report on Thursday, July 2nd. Finally, Stifel Nicolaus raised their price target on shares of Celanese from $87.00 to $103.00 and gave the company a hold rating in a report on Thursday, July 30th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $105.85.

Shares of CE stock traded up $0.85 on Monday, reaching $97.33. 22,508 shares of the company’s stock traded hands, compared to its average volume of 904,329. The company has a market capitalization of $11.59 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 5.20 and a beta of 1.40. Celanese has a 12-month low of $52.70 and a 12-month high of $128.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.74 and a current ratio of 1.20. The business’s 50 day moving average price is $89.25 and its two-hundred day moving average price is $89.77.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 27th will be issued 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 dividend yield of 2.55%. Celanese’s dividend payout ratio (DPR) is presently 26.02%.

Institutional investors have recently made changes to their positions in the company. Trust Co. of Vermont raised its position in shares of Celanese by 2,766.7% during the first quarter. Trust Co. of Vermont now owns 430 shares of the basic materials company’s stock valued at $32,000 after buying an additional 415 shares during the last quarter. Synovus Financial Corp raised its holdings in Celanese by 513.7% in the 1st quarter. Synovus Financial Corp now owns 583 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 488 shares in the last quarter. Signaturefd LLC lifted its position in shares of Celanese by 31.7% in the 1st quarter. Signaturefd LLC now owns 1,097 shares of the basic materials company’s stock worth $81,000 after acquiring an additional 264 shares during the period. Parallel Advisors LLC grew its holdings in shares of Celanese by 25.7% during the 1st quarter. Parallel Advisors LLC now owns 1,321 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 270 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Celanese by 43.3% during the 1st quarter. Bessemer Group Inc. now owns 1,360 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 411 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

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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