Celanese (CE) Downgraded by SunTrust Banks

Celanese (NYSE:CE) was downgraded by analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, The Fly reports.

A number of other equities analysts have also recently weighed in on CE. Zacks Investment Research cut shares of Celanese from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 24th. ValuEngine cut shares of Celanese from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Citigroup lowered their price target on shares of Celanese from $134.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Nomura decreased their price objective on shares of Celanese from $120.00 to $108.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Finally, Vertical Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $117.42.

Shares of CE opened at $94.76 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.40 and a current ratio of 2.08. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.84 and a beta of 1.40. Celanese has a 1 year low of $82.91 and a 1 year high of $119.29.

Celanese (NYSE:CE) last posted its quarterly earnings results on Thursday, October 18th. The basic materials company reported $2.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.22. Celanese had a net margin of 18.57% and a return on equity of 39.39%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company posted $1.93 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts expect that Celanese will post 11.09 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in CE. CENTRAL TRUST Co lifted its holdings in Celanese by 17.4% in the 4th quarter. CENTRAL TRUST Co now owns 1,282 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 190 shares in the last quarter. First Bank & Trust lifted its holdings in Celanese by 106.4% in the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 563 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Celanese by 875.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 1,050 shares in the last quarter. Capital Guardian Trust Co. purchased a new position in Celanese in the 3rd quarter valued at about $189,000. Finally, Independent Advisor Alliance purchased a new position in Celanese in the 3rd quarter valued at about $209,000. Institutional investors own 96.39% of the company’s stock.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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