|Day's Range||97.16 - 98.86|
|52 Week Range||60.59 - 99.97|
|PE Ratio (TTM)||17.02|
|Dividend & Yield||1.84 (1.87%)|
|1y Target Est||N/A|
Celanese's (CE) shares are scaling new highs on solid prospects driven by the joint venture deal with Blackstone and the buyout of Nilit's business.
Celanese's board of directors approves $1.5 billion share repurchase program that represents approximately 11% of the company's outstanding shares.
KeyBanc Capital Markets We sense volume momentum for chemicals evident during the first quarter sustained into the second quarter, albeit at lesser pace, as some of the first-quarter growth was driven by pre-buys as raw materials spiked. Given volume momentum, raw-materials pressure abating, and persistent chatter in mergers and acquisitions, we remain positive on chemicals, which have performed well in the first half. The sector overall continues to garner a good multiple, trading at about 10.0 times average estimated 2018 enterprise value (EV)/earnings before interst, taxes, depreciation and amortization (Ebitda) for the 31 chemical companies under our coverage.