Gilford Securities Downgrades Celanese Corp. Ser -A- to Neutral (CE)
Celanese Corp. Ser -A- (NYSE:CE) was downgraded by equities researchers at Gilford Securities from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
Shares of Celanese Corp. Ser -A- (NYSE:CE) traded up 0.27% on Wednesday, hitting $51.82. 408,665 shares of the company’s stock traded hands. Celanese Corp. Ser -A- has a one year low of $34.96 and a one year high of $54.06. The stock’s 50-day moving average is $50.84 and its 200-day moving average is $48.08. The company has a market cap of $8.269 billion and a P/E ratio of 17.80.
Celanese Corp. Ser -A- (NYSE:CE) last announced its earnings results on Thursday, July 18th. The company reported $1.12 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.16 by $0.04. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company posted $1.47 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts expect that Celanese Corp. Ser -A- will post $4.46 EPS for the current fiscal year.
CE has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Celanese Corp. Ser -A- in a research note to investors on Wednesday, September 25th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Celanese Corp. Ser -A- in a research note to investors on Thursday, September 12th. They now have a $52.00 price target on the stock. Finally, analysts at Barclays Capital cut their price target on shares of Celanese Corp. Ser -A- from $59.00 to $57.00 in a research note to investors on Wednesday, July 24th. They now have an “overweight” rating on the stock. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.40.
Celanese Corporation manufactures chemical products. The Company’s portfolio consists of five main businesses: Acetyl Products, Chemical Intermediates, Acetate Products, Technical Polymers Ticona and Performance Products.
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