Morgan Stanley Raises Celanese (CE) Price Target to $112.00

Celanese (NYSE:CE) had its price objective boosted by Morgan Stanley from $88.00 to $112.00 in a research note published on Wednesday morning. The brokerage currently has an equal weight rating on the basic materials company’s stock.

CE has been the subject of several other reports. SunTrust Banks reissued a buy rating on shares of Celanese in a report on Wednesday, January 17th. Robert W. Baird reissued a buy rating and issued a $130.00 target price on shares of Celanese in a report on Monday, January 29th. Deutsche Bank reissued a buy rating and issued a $128.00 target price on shares of Celanese in a report on Monday, January 29th. Jefferies Group reissued a buy rating and issued a $130.00 target price on shares of Celanese in a report on Monday, January 29th. Finally, Citigroup boosted their target price on 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, seven have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $116.60.

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NYSE:CE opened at $111.70 on Wednesday. The stock has a market cap of $15,101.49, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.35 and a beta of 1.33. Celanese has a 1 year low of $83.34 and a 1 year high of $114.00. The company has a quick ratio of 1.21, a current ratio of 1.88 and a debt-to-equity ratio of 0.91.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Monday, April 30th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, April 27th. This is an increase from Celanese’s previous quarterly dividend of $0.46. This represents a $2.16 annualized dividend and a yield of 1.93%. Celanese’s dividend payout ratio is currently 24.50%.

A number of institutional investors and hedge funds have recently bought and sold shares of CE. Amundi Pioneer Asset Management Inc. increased its position in Celanese by 37.2% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,114,498 shares of the basic materials company’s stock worth $119,340,000 after purchasing an additional 302,015 shares during the period. Victory Capital Management Inc. increased its position in Celanese by 10.5% during the 4th quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock worth $238,797,000 after purchasing an additional 212,134 shares during the period. Baird Financial Group Inc. acquired a new position in Celanese during the 4th quarter worth approximately $20,909,000. Forsta AP Fonden acquired a new position in Celanese during the 4th quarter worth approximately $12,314,000. Finally, Standard Life Aberdeen plc increased its position in Celanese by 14.0% during the 4th quarter. Standard Life Aberdeen plc now owns 928,740 shares of the basic materials company’s stock worth $99,454,000 after purchasing an additional 113,775 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

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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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