Celanese Reaches New 12-Month High at $64.46 (CE)
Celanese (NYSE:CE) hit a new 52-week high during mid-day trading on Monday , Analyst Ratings News reports. The stock traded as high as $64.46 and last traded at $64.06, with a volume of 338,647 shares trading hands. The stock had previously closed at $64.28.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Celanese in a research note on Friday, May 16th. They now have a $61.00 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Celanese from $52.00 to $64.00 in a research note on Tuesday, May 13th. They now have a “market perform” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Celanese in a research note on Thursday, April 24th. They now have a $63.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Celanese has an average rating of “Buy” and a consensus target price of $65.50.
The stock has a 50-day moving average of $60.83 and a 200-day moving average of $55.86. The company has a market cap of $9.945 billion and a P/E ratio of 8.82.
Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, April 21st. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts predict that Celanese will post $5.11 earnings per share for the current fiscal year.
In other Celanese news, SVP Gjon N. Nivica, Jr. unloaded 86,998 shares of the company’s stock on the open market in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $60.81, for a total transaction of $5,290,348.38. The sale was disclosed in a legal filing with the SEC, which is available at this link.
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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