According to Zacks, “Celanese’s strategic measures including productivity and efficiency improvement actions should lend support to its earnings in 2016. The company should also gain from capacity expansion and growth initiatives in the emerging regions, including Asia. Moreover, Celanese continues to generate strong cash flows and remains focused on returning value to its shareholders. However, the company is exposed to pricing pressure and volatility in raw material costs. Moreover, Celanese is still witnessing soft acetyl demand in China given the sluggish economic conditions. Acetyl intermediates margins are expected to remain under pressure in the near term. The company's balance sheet leverage is also relatively high, limiting its financial flexibility.”
A number of other research firms also recently issued reports on CE. Royal Bank Of Canada reduced their price target on shares of Celanese Corp. from $76.00 to $72.00 and set a sector perform rating on the stock in a research report on Thursday, July 28th. Citigroup Inc. downgraded shares of Celanese Corp. from a buy rating to a neutral rating and reduced their price target for the stock from $77.00 to $71.00 in a research report on Wednesday, September 7th. Morgan Stanley restated a hold rating and issued a $65.00 price target on shares of Celanese Corp. in a research report on Thursday, June 16th. Susquehanna initiated coverage on shares of Celanese Corp. in a research report on Friday, July 1st. They issued a positive rating and a $80.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Celanese Corp. from $75.00 to $70.00 and set a neutral rating on the stock in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $73.83.
Celanese Corp. (NYSE:CE) traded up 0.46% during mid-day trading on Monday, reaching $63.20. 97,436 shares of the company were exchanged. The stock has a market capitalization of $9.15 billion, a P/E ratio of 27.44 and a beta of 1.85. Celanese Corp. has a 12 month low of $55.07 and a 12 month high of $74.55. The company’s 50 day moving average price is $64.25 and its 200-day moving average price is $67.30.
Celanese Corp. (NYSE:CE) last posted its quarterly earnings results on Monday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.03. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm posted $1.58 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities analysts expect that Celanese Corp. will post $6.54 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Investec Asset Management LTD purchased a new position in shares of Celanese Corp. during the first quarter valued at approximately $105,163,000. Norges Bank purchased a new position in shares of Celanese Corp. during the fourth quarter valued at approximately $78,245,000. Wellington Management Group LLP boosted its position in shares of Celanese Corp. by 7.4% in the first quarter. Wellington Management Group LLP now owns 7,599,679 shares of the company’s stock valued at $497,779,000 after buying an additional 520,647 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Celanese Corp. during the first quarter valued at approximately $28,316,000. Finally, Vanguard Group Inc. boosted its position in shares of Celanese Corp. by 3.5% in the second quarter. Vanguard Group Inc. now owns 11,043,208 shares of the company’s stock valued at $722,778,000 after buying an additional 378,344 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.
Celanese Corp. Company Profile
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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