Jefferies Group Brokers Boost Earnings Estimates for Celanese Co. (CE)
Celanese Co. (NYSE:CE) – Stock analysts at Jefferies Group boosted their FY2018 earnings per share estimates for Celanese in a note issued to investors on Thursday. Jefferies Group analyst L. Alexander now expects that the basic materials company will earn $8.60 per share for the year, up from their previous estimate of $8.55. Jefferies Group has a “Buy” rating and a $130.00 price objective on the stock. Jefferies Group also issued estimates for Celanese’s Q4 2018 earnings at $1.98 EPS.
Other research analysts have also issued research reports about the company. Tudor Pickering initiated coverage on Celanese in a report on Tuesday, November 14th. They set a “buy” rating on the stock. 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. Citigroup upped 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. Finally, Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $113.28.
Celanese (NYSE:CE) last announced its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.12. Celanese had a return on equity of 32.96% and a net margin of 13.73%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Celanese’s quarterly revenue was up 21.5% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First PREMIER Bank lifted its position in Celanese by 900.0% during the fourth quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock worth $107,000 after buying an additional 900 shares during the period. Cerebellum GP LLC purchased a new position in Celanese during the fourth quarter worth about $129,000. Compagnie Lombard Odier SCmA purchased a new position in Celanese during the fourth quarter worth about $160,000. Lido Advisors LLC purchased a new position in Celanese during the fourth quarter worth about $200,000. Finally, Wellington Shields & Co. LLC purchased a new position in Celanese during the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 96.00% of the company’s stock.
In related news, CFO Christopher W. Jensen sold 3,000 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the chief financial officer now directly owns 52,924 shares in the company, valued at $5,821,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Tuesday, February 20th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, February 16th. Celanese’s payout ratio is currently 26.86%.
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Celanese Company Profile
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.
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