Celanese Corp. (NYSE:CE) has received an average recommendation of “Buy” from the nineteen analysts that are covering the firm. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $73.31.
CE has been the subject of a number of recent research reports. Royal Bank Of Canada cut their target price 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. Zacks Investment Research raised shares of Celanese Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Citigroup Inc. lowered shares of Celanese Corp. from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $71.00 in a report on Wednesday, September 7th. Morgan Stanley reissued a “hold” rating and issued a $65.00 target price on shares of Celanese Corp. in a report on Thursday, June 16th. Finally, Susquehanna initiated coverage on shares of Celanese Corp. in a report on Friday, July 1st. They issued a “positive” rating and a $80.00 target price for the company.
Celanese Corp. (NYSE:CE) opened at 66.05 on Wednesday. The firm’s 50-day moving average is $64.21 and its 200-day moving average is $67.29. Celanese Corp. has a 12 month low of $55.07 and a 12 month high of $74.55. The stock has a market capitalization of $9.56 billion, a P/E ratio of 28.68 and a beta of 1.61.
Celanese Corp. (NYSE:CE) last announced its quarterly earnings data on Monday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The business earned $1.35 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $1.58 EPS. The company’s revenue 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.
Hedge funds have recently added to or reduced their stakes in the stock. Societe Generale purchased a new stake in Celanese Corp. during the second quarter valued at $111,000. Bessemer Group Inc. increased its stake in Celanese Corp. by 22.5% in the first quarter. Bessemer Group Inc. now owns 1,964 shares of the company’s stock valued at $129,000 after buying an additional 361 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Celanese Corp. during the second quarter valued at $133,000. Advisor Group Inc. purchased a new stake in Celanese Corp. during the second quarter valued at $152,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in Celanese Corp. by 123.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,339 shares of the company’s stock valued at $153,000 after buying an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.
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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