BMO Capital Markets Initiates Coverage on Celanese (CE)

BMO Capital Markets started coverage on shares of Celanese (NYSE:CE) in a report issued on Tuesday. The firm issued an outperform rating and a $131.00 target price on the basic materials company’s stock.

Several other research analysts have also commented on CE. Zacks Investment Research lowered shares of Celanese from a buy rating to a hold rating in a report on Friday, December 15th. SunTrust Banks restated a buy rating on shares of Celanese in a report on Wednesday, January 17th. Wells Fargo restated a market perform rating and issued a $110.00 price target (up previously from $104.00) on shares of Celanese in a report on Wednesday, January 17th. UBS raised their price target on shares of Celanese from $107.00 to $113.00 and gave the company a neutral rating in a report on Friday, January 26th. Finally, Citigroup raised their price target on shares of Celanese from $123.00 to $128.00 and gave the company a buy rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Celanese has an average rating of Buy and an average price target of $115.10.

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NYSE CE opened at $100.21 on Tuesday. Celanese has a one year low of $83.34 and a one year high of $114.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.79. The company has a market capitalization of $13,610.22, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.29.

Celanese (NYSE:CE) last posted its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.12. Celanese had a net margin of 13.73% and a return on equity of 32.96%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $1.52 earnings per share. Celanese’s revenue for the quarter was up 21.5% compared to the same quarter last year. equities research analysts predict that Celanese will post 8.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.84%. Celanese’s dividend payout ratio is currently 24.50%.

In related news, CFO Christopher W. Jensen sold 3,000 shares of Celanese stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the chief financial officer now owns 52,924 shares in the company, valued at $5,821,640. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Several large investors have recently modified their holdings of CE. Amundi Pioneer Asset Management Inc. increased its stake in shares of 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 worth $119,340,000 after buying an additional 302,015 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Celanese by 134.3% in the third quarter. Janus Henderson Group PLC now owns 465,222 shares of the basic materials company’s stock worth $48,509,000 after buying an additional 266,698 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Celanese by 13.4% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,150,894 shares of the basic materials company’s stock worth $224,274,000 after buying an additional 253,809 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of 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 worth $238,797,000 after buying an additional 212,134 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of Celanese in the fourth quarter worth $20,909,000. Institutional investors and hedge funds own 95.83% of the company’s stock.

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About Celanese

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.

Analyst Recommendations for Celanese (NYSE:CE)

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