Celanese Given Consensus Recommendation of “Buy” by Analysts (NYSE:CE)
Celanese (NYSE:CE) has received an average recommendation of “Buy” from the thirteen brokerages that are covering the company, American Banking and Market News reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $67.18.
Shares of Celanese (NYSE:CE) opened at 61.66 on Monday. Celanese has a one year low of $48.62 and a one year high of $66.35. The stock has a 50-day moving average of $61.37 and a 200-day moving average of $58.83. The company has a market cap of $9.573 billion and a price-to-earnings ratio of 7.52.
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.
A number of research firms have recently commented on CE. Analysts at Zacks reiterated a “neutral” rating on shares of Celanese in a research note on Wednesday, August 20th. They now have a $64.00 price target on the stock. Separately, 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. Finally, 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.
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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