Celanese Co. to Issue Quarterly Dividend of $0.03 (NYSE:CE)

Celanese Co. (NYSE:CE) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Tuesday, February 25th will be given a dividend of 0.03 per share by the basic materials company on Monday, March 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.18%.

Celanese has raised its dividend payment by an average of 1.0% per year over the last three years. Celanese has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Celanese to earn $8.79 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 31.9%.

Celanese Trading Down 0.6 %

Shares of NYSE:CE traded down $0.40 during trading on Wednesday, reaching $66.41. The stock had a trading volume of 1,604,276 shares, compared to its average volume of 2,119,837. Celanese has a fifty-two week low of $64.05 and a fifty-two week high of $172.16. The business has a fifty day moving average price of $69.47 and a 200-day moving average price of $100.76. The stock has a market cap of $7.26 billion, a P/E ratio of 6.68, a PEG ratio of 1.37 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.

Analyst Ratings Changes

A number of equities analysts have weighed in on CE shares. Royal Bank of Canada decreased their price target on shares of Celanese from $122.00 to $88.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Piper Sandler dropped their price target on Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird cut their price objective on Celanese from $150.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Barclays decreased their target price on Celanese from $88.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Morgan Stanley cut their price target on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $102.06.

About Celanese

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.