Very Positive News Coverage Likely to Affect Celanese Corporation (CE) Stock Price
Media headlines about Celanese Corporation (NYSE:CE) have been trending very positive recently, according to Accern Sentiment. The research group identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Celanese Corporation earned a media sentiment score of 0.59 on Accern’s scale. Accern also gave news headlines about the basic materials company an impact score of 74 out of 100, indicating that recent press coverage is likely to have an impact on the stock’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Celanese Corporation Celanese C (NYSE:CE) Experiences Lighter than Average Trading Volume – First News 24 (firstnewspaper24.com)
- Celanese Corporation Celanese C (NYSE:CE) Experiences Lighter than Usual Trading Volume – Modern Readers (modernreaders.com)
- Cadence Capital Management Llc Buys JetBlue Airways Corp, Valero Energy Corp, General Mills … (nasdaq.com)
- Is Either Verisk Analytics, Inc. (NASDAQ:VRSK) or Celanese Corporation (NYSE:CE) a Sensible Stock at Current Levels? – FLBC News (flbcnews.com)
- Plastic Polymer Market Size & Share Outlook Up to 2024 (sbwire.com)
Several equities research analysts have commented on CE shares. Jefferies Group LLC set a $104.00 price objective on shares of Celanese Corporation and gave the company a “buy” rating in a research note on Saturday, May 27th. Royal Bank Of Canada reiterated a “buy” rating on shares of Celanese Corporation in a research note on Tuesday, May 2nd. Citigroup Inc. increased their target price on shares of Celanese Corporation from $100.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Deutsche Bank AG reduced their target price on shares of Celanese Corporation from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. Finally, Zacks Investment Research raised shares of Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $98.99.
Shares of Celanese Corporation (NYSE CE) traded up 1.17% on Monday, reaching $98.78. 829,562 shares of the company’s stock traded hands. Celanese Corporation has a 52-week low of $60.59 and a 52-week high of $99.97. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 16.81 and a beta of 1.28. The firm’s 50-day moving average is $95.24 and its 200-day moving average is $89.98.
Celanese Corporation (NYSE:CE) last issued its quarterly earnings results on Monday, July 24th. The basic materials company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.76 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.44 billion. Celanese Corporation had a net margin of 14.89% and a return on equity of 31.23%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. Analysts anticipate that Celanese Corporation will post $7.32 EPS for the current fiscal year.
Celanese Corporation announced that its Board of Directors has initiated a stock repurchase program on Monday, July 17th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 10.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Friday, July 28th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, July 26th. This represents a $1.84 annualized dividend and a yield of 1.86%. Celanese Corporation’s dividend payout ratio (DPR) is presently 31.24%.
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Celanese Corporation 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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