Celanese Co. to Issue Quarterly Dividend of $0.46 (CE)
Celanese Co. (NYSE:CE) declared a quarterly dividend on Friday, February 9th, Wall Street Journal reports. Stockholders of record on Tuesday, February 20th will be paid a dividend of 0.46 per share by the basic materials company on Friday, March 2nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, February 16th.
Celanese has raised its dividend by an average of 23.2% per year over the last three years and has increased its dividend every year for the last 6 years. Celanese has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Celanese to earn $9.18 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 20.0%.
Shares of Celanese (CE) traded up $2.43 on Friday, hitting $100.21. The stock had a trading volume of 1,080,000 shares, compared to its average volume of 678,975. Celanese has a one year low of $83.34 and a one year high of $114.00. The company has a market cap of $13,590.00, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.27. The company has a quick ratio of 1.16, a current ratio of 1.69 and a debt-to-equity ratio of 0.94.
In other Celanese 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 completion of the sale, the chief financial officer now directly owns 52,924 shares in the company, valued at approximately $5,821,640. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.
A number of research firms recently weighed in on CE. UBS Group increased their price objective on Celanese from $107.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Jefferies Group restated a “buy” rating and issued a $130.00 price objective on shares of Celanese in a report on Monday, January 29th. Citigroup increased their price objective on Celanese from $123.00 to $128.00 and gave the company a “buy” rating in a report on Monday, January 29th. Deutsche Bank restated a “buy” rating and issued a $128.00 price objective on shares of Celanese in a report on Monday, January 29th. Finally, SunTrust Banks restated a “buy” rating on shares of Celanese in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $113.28.
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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