Somewhat Favorable News Coverage Somewhat Unlikely to Impact Celanese Corporation (CE) Stock Price
Media headlines about Celanese Corporation (NYSE:CE) have trended somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Celanese Corporation earned a coverage optimism score of 0.18 on Accern’s scale. Accern also gave press coverage about the basic materials company an impact score of 46.0671457143292 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Celanese Corporation (CE) Receives Consensus Rating of “Buy” from Analysts (americanbankingnews.com)
- Celanese Corporation (CE) CFO Sells $104,680.00 in Stock (americanbankingnews.com)
- Pre-market Technical Pulse on Chemicals Stocks — BioAmber, Celanese, DowDuPont, and Eastman Chemical – PR Newswire (press release) (prnewswire.com)
- Celanese Corp. : CE-US: Dividend Analysis : October 30th, 2017 (record date) : By the numbers : October 30, 2017 (finance.yahoo.com)
- ETFs with exposure to Celanese Corp. : October 30, 2017 (finance.yahoo.com)
Several research analysts have commented on CE shares. ValuEngine downgraded shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. BidaskClub downgraded shares of Celanese Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. UBS AG reissued a “neutral” rating and set a $100.00 price objective (up previously from $95.00) on shares of Celanese Corporation in a report on Tuesday, July 25th. Cowen and Company reissued an “outperform” rating and set a $115.00 price objective (up previously from $100.00) on shares of Celanese Corporation in a report on Wednesday, August 9th. Finally, Nomura increased their price objective on shares of Celanese Corporation from $97.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $107.74.
Celanese Corporation (NYSE:CE) last announced its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.01. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company earned $1.67 EPS. Celanese Corporation’s revenue was up 18.4% compared to the same quarter last year.
Celanese Corporation declared that its board has authorized a stock repurchase plan on Monday, July 17th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 10.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Monday, October 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, October 27th. This represents a $1.84 annualized dividend and a yield of 1.72%. Celanese Corporation’s dividend payout ratio is presently 32.11%.
In other Celanese Corporation news, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total value of $264,700.00. Following the transaction, the director now directly owns 30,175 shares in the company, valued at approximately $3,194,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher W. Jensen sold 1,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the completion of the transaction, the chief financial officer now owns 60,086 shares in the company, valued at $6,289,802.48. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
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About Celanese Corporation
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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