Celanese (NYSE:CE) Sees Large Volume Increase – What’s Next?

Celanese Co. (NYSE:CE) saw unusually-high trading volume on Friday . Approximately 2,097,268 shares traded hands during trading, an increase of 88% from the previous session’s volume of 1,113,487 shares.The stock last traded at $67.52 and had previously closed at $67.03.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Vertical Research downgraded Celanese from a “hold” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Tuesday, October 29th. Wells Fargo & Company downgraded Celanese from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $165.00 to $115.00 in a report on Tuesday, November 5th. Jefferies Financial Group dropped their price target on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Citigroup decreased their target price on shares of Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Robert W. Baird cut their price target on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $110.50.

Celanese Stock Performance

The company has a market cap of $7.46 billion, a PE ratio of 6.87, a P/E/G ratio of 0.72 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The business’s fifty day moving average is $92.03 and its 200-day moving average is $119.05.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm earned $2.50 EPS. The company’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts predict that Celanese Co. will post 8.38 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.10%. Celanese’s payout ratio is currently 28.17%.

Institutional Investors Weigh In On Celanese

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DT Investment Partners LLC raised its holdings in Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Fairscale Capital LLC bought a new stake in Celanese during the 2nd quarter valued at approximately $28,000. Key Financial Inc lifted its holdings in Celanese by 3,933.3% in the 2nd quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 236 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Celanese during the 2nd quarter valued at approximately $40,000. Finally, Mather Group LLC. raised its position in shares of Celanese by 124.0% during the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after buying an additional 222 shares during the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.