Celanese (CE) Rating Lowered to Market Perform at Cowen

Celanese (NYSE:CE) was downgraded by research analysts at Cowen from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday. They presently have a $108.00 target price on the basic materials company’s stock, down from their prior target price of $122.00. Cowen’s price target suggests a potential upside of 9.40% from the stock’s previous close.

CE has been the topic of several other research reports. SunTrust Banks downgraded Celanese from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Royal Bank of Canada restated a “buy” rating and issued a $118.00 price target on shares of Celanese in a research note on Thursday, December 20th. Zacks Investment Research downgraded Celanese from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Stifel Nicolaus started coverage on Celanese in a research note on Monday, December 10th. They issued a “hold” rating and a $100.00 price target on the stock. Finally, Alembic Global Advisors restated a “sell” rating on shares of Celanese in a research note on Thursday, December 20th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $115.24.

Shares of NYSE:CE opened at $98.72 on Wednesday. Celanese has a 52-week low of $82.91 and a 52-week high of $119.29. The company has a market capitalization of $13.28 billion, a PE ratio of 8.97, a PEG ratio of 0.95 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.62 and a quick ratio of 1.03.

Celanese (NYSE:CE) last announced its earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.02). Celanese had a return on equity of 40.37% and a net margin of 16.87%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company posted $1.98 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that Celanese will post 10.41 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA lifted its holdings in shares of Celanese by 21.8% during the 3rd quarter. Private Trust Co. NA now owns 4,516 shares of the basic materials company’s stock valued at $514,000 after buying an additional 809 shares during the period. Atria Investments LLC lifted its holdings in shares of Celanese by 30.0% during the 3rd quarter. Atria Investments LLC now owns 4,950 shares of the basic materials company’s stock valued at $564,000 after buying an additional 1,141 shares during the period. Lourd Capital LLC bought a new position in shares of Celanese during the 3rd quarter valued at $241,000. DNB Asset Management AS lifted its holdings in shares of Celanese by 12.1% during the 3rd quarter. DNB Asset Management AS now owns 19,980 shares of the basic materials company’s stock valued at $2,278,000 after buying an additional 2,156 shares during the period. Finally, First Bank & Trust lifted its holdings in shares of Celanese by 106.4% during the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock valued at $127,000 after buying an additional 563 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

About Celanese

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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