Celanese (CE) Earns Buy Rating from Deutsche Bank

Celanese (NYSE:CE)‘s stock had its “buy” rating reiterated by stock analysts at Deutsche Bank in a report released on Monday. They presently have a $128.00 target price on the basic materials company’s stock. Deutsche Bank’s target price would suggest a potential upside of 14.80% from the stock’s previous close.

CE has been the topic of several other research reports. ValuEngine cut shares of Celanese from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 6th. Cowen reaffirmed a “buy” rating on shares of Celanese in a research report on Sunday, October 29th. Zacks Investment Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Monday, December 18th. KeyCorp upped their price target on shares of Celanese from $106.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Finally, Instinet reaffirmed a “neutral” rating and set a $100.00 price target (up previously from $97.00) on shares of Celanese in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Celanese has an average rating of “Buy” and a consensus price target of $113.28.

Shares of Celanese (NYSE CE) traded up $0.14 during trading on Monday, hitting $111.50. 499,524 shares of the company traded hands, compared to its average volume of 643,380. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.94. Celanese has a one year low of $83.13 and a one year high of $114.00. The company has a market capitalization of $15,104.42, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32.

Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.12. Celanese had a net margin of 13.73% and a return on equity of 33.49%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Celanese’s revenue for the quarter was up 21.5% on a year-over-year basis. equities research analysts anticipate that Celanese will post 8.32 EPS for the current year.

In other news, CFO Christopher W. Jensen sold 3,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the chief financial officer now owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in CE. Principal Financial Group Inc. raised its holdings in shares of Celanese by 3.7% in the 2nd quarter. Principal Financial Group Inc. now owns 33,322 shares of the basic materials company’s stock worth $3,164,000 after acquiring an additional 1,197 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Celanese by 11.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 145,373 shares of the basic materials company’s stock worth $13,803,000 after acquiring an additional 14,454 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Celanese by 46.9% in the 2nd quarter. Advisor Group Inc. now owns 2,241 shares of the basic materials company’s stock worth $212,000 after acquiring an additional 715 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Celanese by 46.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 244,863 shares of the basic materials company’s stock worth $23,247,000 after acquiring an additional 77,919 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Celanese by 18.5% in the 2nd quarter. Renaissance Technologies LLC now owns 421,800 shares of the basic materials company’s stock worth $40,046,000 after acquiring an additional 65,800 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

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Celanese 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.

Analyst Recommendations for Celanese (NYSE:CE)

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