Celanese Co. (NYSE:CE) Plans Quarterly Dividend of $0.70

Celanese Co. (NYSE:CEGet Free Report) announced a quarterly dividend on Wednesday, April 17th, RTT News reports. Stockholders of record on Monday, April 29th will be given a dividend of 0.70 per share by the basic materials company on Monday, May 13th. This represents a $2.80 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Friday, April 26th.

Celanese has raised its dividend by an average of 4.1% annually over the last three years. Celanese has a dividend payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Celanese to earn $13.96 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 20.1%.

Celanese Stock Performance

Celanese stock opened at $155.45 on Thursday. The stock has a 50-day simple moving average of $158.34 and a 200 day simple moving average of $144.68. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.62 and a beta of 1.36. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 1.63. Celanese has a 12-month low of $99.33 and a 12-month high of $172.16.

Celanese (NYSE:CEGet Free Report) last announced its earnings results on Tuesday, February 20th. The basic materials company reported $2.24 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). Celanese had a return on equity of 14.61% and a net margin of 17.92%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate that Celanese will post 11.35 earnings per share for the current fiscal year.

Insider Activity at Celanese

In other news, SVP Thomas Francis Kelly acquired 1,400 shares of Celanese stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $156.69 per share, for a total transaction of $219,366.00. Following the completion of the purchase, the senior vice president now directly owns 57,023 shares of the company’s stock, valued at approximately $8,934,933.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Scott A. Richardson sold 2,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total transaction of $313,700.00. Following the completion of the transaction, the chief operating officer now owns 76,429 shares of the company’s stock, valued at approximately $11,987,888.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas Francis Kelly acquired 1,400 shares of Celanese stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $156.69 per share, for a total transaction of $219,366.00. Following the completion of the purchase, the senior vice president now directly owns 57,023 shares of the company’s stock, valued at $8,934,933.87. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CE has been the topic of a number of research analyst reports. Citigroup increased their price target on Celanese from $150.00 to $167.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. KeyCorp raised their target price on shares of Celanese from $176.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. UBS Group upped their price target on shares of Celanese from $169.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Bank of America downgraded shares of Celanese from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $124.00 to $135.00 in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company upped their target price on Celanese from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $149.56.

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Celanese Company Profile

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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.

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Dividend History for Celanese (NYSE:CE)

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