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

Celanese Co. (NYSE:CE) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors 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 yield of 0.18%.

Celanese has increased its dividend by an average of 1.0% annually over the last three years. Celanese has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Research 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 opened at $66.41 on Thursday. Celanese has a twelve month low of $64.05 and a twelve month high of $172.16. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 6.68, a P/E/G 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. The company’s fifty day moving average is $69.38 and its 200-day moving average is $100.52.

Wall Street Analyst Weigh In

CE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Celanese from a “hold” rating to a “buy” rating and reduced their target price for the stock from $135.00 to $110.00 in a report on Wednesday, November 6th. BMO Capital Markets cut Celanese from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $138.00 to $76.00 in a report on Monday, November 11th. Citigroup lowered their target price on Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Barclays cut their price target on shares of Celanese from $88.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, Piper Sandler lowered their price objective on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.