Celanese Corporation (CE) Rating Reiterated by Jefferies Group LLC
Celanese Corporation (NYSE:CE)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $122.00 price target on the basic materials company’s stock. Jefferies Group LLC’s price target points to a potential upside of 15.53% from the company’s current price. Jefferies Group also issued estimates for Celanese Corporation’s Q4 2017 earnings at $1.82 EPS, FY2017 earnings at $7.35 EPS, FY2018 earnings at $8.10 EPS, FY2019 earnings at $9.30 EPS and FY2020 earnings at $10.00 EPS.
Other research analysts have also issued research reports about the stock. KeyCorp reaffirmed a “buy” rating and set a $106.00 price objective on shares of Celanese Corporation in a research report on Thursday, August 24th. BidaskClub raised shares of Celanese Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Zacks Investment Research raised shares of Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research report on Monday, July 17th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $109.00 price objective on shares of Celanese Corporation in a research report on Wednesday, September 6th. Finally, ValuEngine lowered shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Celanese Corporation has a consensus rating of “Buy” and an average price target of $107.74.
Celanese Corporation (NYSE:CE) traded up 0.29% during trading on Thursday, reaching $105.60. The company had a trading volume of 490,082 shares. The firm has a 50-day moving average price of $103.28 and a 200 day moving average price of $95.08. Celanese Corporation has a 12-month low of $69.96 and a 12-month high of $109.11. The stock has a market cap of $14.42 billion, a P/E ratio of 18.51 and a beta of 1.31.
Celanese Corporation (NYSE:CE) last announced its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.01. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. Equities research analysts predict that Celanese Corporation will post $7.39 EPS for the current fiscal year.
Celanese Corporation announced that its Board of Directors has authorized a stock buyback program on Monday, July 17th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 10.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
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A number of institutional investors have recently modified their holdings of CE. Northwestern Mutual Wealth Management Co. grew its stake in Celanese Corporation by 24.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock worth $101,000 after buying an additional 206 shares during the last quarter. Barrett Asset Management LLC bought a new stake in Celanese Corporation during the second quarter worth about $142,000. Fiduciary Trust Co. bought a new stake in Celanese Corporation during the second quarter worth about $150,000. Toronto Dominion Bank grew its stake in Celanese Corporation by 8.4% during the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after buying an additional 134 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Celanese Corporation by 31.5% during the first quarter. Fifth Third Bancorp now owns 2,005 shares of the basic materials company’s stock worth $180,000 after buying an additional 480 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.
Celanese Corporation Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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