Deutsche Bank AG reaffirmed their buy rating on shares of Celanese Corp. (NYSE:CE) in a research note published on Tuesday. The firm currently has a $75.00 price target on the stock, down from their previous price target of $78.00.
CE has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Celanese Corp. from a hold rating to a sell rating in a report on Wednesday, September 14th. Jefferies Group reaffirmed a buy rating on shares of Celanese Corp. in a report on Tuesday, August 23rd. Nomura reaffirmed a hold rating on shares of Celanese Corp. in a report on Tuesday, July 12th. Royal Bank Of Canada decreased their price objective on shares of Celanese Corp. from $76.00 to $72.00 and set a sector perform rating for the company in a report on Thursday, July 28th. Finally, Barclays PLC decreased their price objective on shares of Celanese Corp. from $82.00 to $76.00 and set an overweight rating for the company in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $74.19.
Shares of Celanese Corp. (NYSE:CE) traded up 0.32% during trading on Tuesday, reaching $69.59. 200,305 shares of the company’s stock were exchanged. The stock has a market capitalization of $10.07 billion, a PE ratio of 30.22 and a beta of 1.61. The company’s 50-day moving average is $64.08 and its 200 day moving average is $67.28. Celanese Corp. has a 52 week low of $55.07 and a 52 week high of $74.55.
Celanese Corp. (NYSE:CE) last issued its quarterly earnings results on Monday, October 17th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.06. The business earned $1.32 billion during the quarter, compared to analyst estimates of $1.63 billion. Celanese Corp. had a net margin of 8.17% and a return on equity of 31.10%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.50 earnings per share. On average, analysts forecast that Celanese Corp. will post $6.54 earnings per share for the current year.
A number of large investors have recently modified their holdings of the company. First Quadrant L P CA boosted its stake in shares of Celanese Corp. by 6.3% in the third quarter. First Quadrant L P CA now owns 231,625 shares of the company’s stock valued at $15,417,000 after buying an additional 13,625 shares during the period. American National Bank boosted its stake in shares of Celanese Corp. by 9.2% in the third quarter. American National Bank now owns 54,174 shares of the company’s stock valued at $3,606,000 after buying an additional 4,564 shares during the period. National Pension Service boosted its stake in shares of Celanese Corp. by 9.5% in the third quarter. National Pension Service now owns 125,647 shares of the company’s stock valued at $8,363,000 after buying an additional 10,858 shares during the period. MSI Financial Services Inc boosted its stake in shares of Celanese Corp. by 57.6% in the third quarter. MSI Financial Services Inc now owns 5,480 shares of the company’s stock valued at $365,000 after buying an additional 2,002 shares during the period. Finally, Creative Planning boosted its stake in shares of Celanese Corp. by 261.1% in the third quarter. Creative Planning now owns 1,755 shares of the company’s stock valued at $117,000 after buying an additional 1,269 shares during the period. Hedge funds and other institutional investors own 95.98% of the company’s stock.
About Celanese Corp.
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.
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