Celanese Given Average Recommendation of “Buy” by Brokerages (NYSE:CE)
Celanese (NYSE:CE) has received an average recommendation of “Buy” from the thirteen brokerages that are currently covering the stock, Analyst Ratings Network.com reports. Six research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $67.18.
A number of analysts have recently weighed in on CE shares. 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.
Shares of Celanese (NYSE:CE) opened at 61.94 on Monday. Celanese has a one year low of $48.78 and a one year high of $66.35. The stock’s 50-day moving average is $61.07 and its 200-day moving average is $59.16. The company has a market cap of $9.616 billion and a price-to-earnings ratio of 7.59.
Celanese (NYSE:CE) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that Celanese will post $5.32 earnings per share 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.
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