Celanese Corp.’s (CE) “Buy” Rating Reiterated at Deutsche Bank AG
Celanese Corp. (NYSE:CE)‘s stock had its “buy” rating restated by equities researchers at Deutsche Bank AG in a report issued on Tuesday. They currently have a $75.00 price target on the stock, down from their previous price target of $78.00. Deutsche Bank AG’s price target would suggest a potential upside of 17.96% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Celanese Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Jefferies Group reissued a “buy” rating on shares of Celanese Corp. in a research report on Tuesday, August 23rd. Nomura reissued a “hold” rating on shares of Celanese Corp. in a research report on Tuesday, July 12th. Royal Bank Of Canada cut their price objective on shares of Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 28th. Finally, Barclays PLC cut their price objective on shares of Celanese Corp. from $82.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $74.19.
Celanese Corp. (NYSE:CE) traded up 9.11% during mid-day trading on Tuesday, hitting $69.37. The company had a trading volume of 3,468,184 shares. The firm has a market capitalization of $10.04 billion, a PE ratio of 30.12 and a beta of 1.61. The company’s 50 day moving average price is $63.98 and its 200-day moving average price is $67.26. Celanese Corp. has a 12-month low of $55.07 and a 12-month high of $74.55.
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Celanese Corp. (NYSE:CE) last issued its quarterly earnings data on Monday, October 17th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.06. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. Celanese Corp.’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, analysts forecast that Celanese Corp. will post $6.54 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CE. Metropolitan Life Insurance Co. NY increased its position in Celanese Corp. by 0.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,978 shares of the company’s stock valued at $326,000 after buying an additional 13 shares during the period. Checchi Capital Advisers LLC increased its position in Celanese Corp. by 0.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,630 shares of the company’s stock valued at $172,000 after buying an additional 17 shares during the period. Synovus Financial Corp increased its position in Celanese Corp. by 1.3% in the second quarter. Synovus Financial Corp now owns 4,015 shares of the company’s stock valued at $263,000 after buying an additional 51 shares during the period. Eqis Capital Management Inc. increased its position in Celanese Corp. by 1.5% in the third quarter. Eqis Capital Management Inc. now owns 6,727 shares of the company’s stock valued at $448,000 after buying an additional 101 shares during the period. Finally, ProShare Advisors LLC increased its position in Celanese Corp. by 1.4% in the second quarter. ProShare Advisors LLC now owns 12,213 shares of the company’s stock valued at $799,000 after buying an additional 165 shares during the period. 95.98% of the stock is owned by institutional investors.
Celanese Corp. Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.
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