Celanese (NYSE:CE) had its price objective cut by Nomura from $107.00 to $105.00 in a research report released on Wednesday, BenzingaRatingsTable reports. They currently have a neutral rating on the basic materials company’s stock.

Other equities analysts also recently issued research reports about the company. Citigroup set a $12.00 price target on Controladora Vuela Co Avcn SA CV and gave the stock a buy rating in a research report on Monday, July 15th. ValuEngine downgraded Welbilt from a hold rating to a sell rating in a research report on Wednesday, June 12th. KeyCorp downgraded Steris from an overweight rating to a sector weight rating in a research report on Tuesday, July 9th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a market perform rating and set a C$17.00 price target on shares of Wajax in a research report on Thursday, June 20th. Finally, Cowen reaffirmed a buy rating on shares of Ovid Therapeutics in a research report on Monday, July 1st. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $117.87.

Shares of CE opened at $111.16 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.04 and a quick ratio of 1.03. The company has a 50 day simple moving average of $105.97. Celanese has a 52-week low of $82.91 and a 52-week high of $119.29. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.08 and a beta of 1.42.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.02. Celanese had a return on equity of 38.56% and a net margin of 15.52%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the firm earned $2.90 EPS. Celanese’s quarterly revenue was down 13.7% compared to the same quarter last year. As a group, research analysts anticipate that Celanese will post 10.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 26th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, July 25th. Celanese’s payout ratio is presently 22.55%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of Celanese by 5.2% in the 1st quarter. Wells Fargo & Company MN now owns 2,967,489 shares of the basic materials company’s stock valued at $292,624,000 after buying an additional 146,569 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Celanese by 20.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,892,634 shares of the basic materials company’s stock valued at $186,634,000 after buying an additional 323,714 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Celanese by 61.5% in the 4th quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock valued at $163,756,000 after buying an additional 694,491 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Celanese by 2.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359,879 shares of the basic materials company’s stock valued at $134,097,000 after buying an additional 28,375 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Celanese by 1.2% in the 1st quarter. Northern Trust Corp now owns 1,353,590 shares of the basic materials company’s stock valued at $133,477,000 after buying an additional 16,072 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

About Celanese

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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Analyst Recommendations for Celanese (NYSE:CE)

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