Celanese Receives Neutral Rating from Zacks (CE)
Celanese (NYSE:CE)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Wednesday. They currently have a $64.00 target price on the stock. Zacks‘s target price suggests a potential upside of 5.61% from the company’s current price.
A number of other analysts have also recently weighed in on CE. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Celanese in a research note on Monday, July 21st. They now have a $60.00 price target on the stock, up previously from $58.00. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Celanese in a research note on Monday, July 21st. They now have a $69.00 price target on the stock, up previously from $63.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Celanese in a research note on Friday, July 18th. They now have a $72.00 price target on the stock, up previously from $68.00. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Celanese currently has a consensus rating of “Buy” and a consensus target price of $67.18.
Shares of Celanese (NYSE:CE) traded up 1.06% during mid-day trading on Wednesday, hitting $61.24. 370,679 shares of the company’s stock traded hands. Celanese has a one year low of $48.62 and a one year high of $66.35. The stock’s 50-day moving average is $61.73 and its 200-day moving average is $58.7. The company has a market cap of $9.507 billion and a P/E ratio of 7.45.
Celanese (NYSE:CE) last announced its earnings results on Thursday, July 17th. The company reported $1.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.23 by $0.24. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that Celanese will post $5.32 EPS for the current fiscal year.
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.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.