Celanese Corp. (NYSE:CE) Given Average Rating of “Buy” by Brokerages
Shares of Celanese Corp. (NYSE:CE) have received an average recommendation of “Buy” from the eighteen brokerages that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $72.79.
Several brokerages have issued reports on CE. Zacks Investment Research raised Celanese Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Citigroup Inc. lowered Celanese Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $77.00 to $71.00 in a report on Wednesday, September 7th. Jefferies Group reaffirmed a “buy” rating on shares of Celanese Corp. in a report on Tuesday, August 23rd. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $72.00 target price (down previously from $76.00) on shares of Celanese Corp. in a research note on Thursday, July 28th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Societe Generale acquired a new position in shares of Celanese Corp. during the second quarter worth $111,000. Bessemer Group Inc. boosted its position in shares of Celanese Corp. by 22.5% in the first quarter. Bessemer Group Inc. now owns 1,964 shares of the company’s stock worth $129,000 after buying an additional 361 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Celanese Corp. during the second quarter worth $133,000. Mizuho Asset Management Co. Ltd. boosted its position in shares of Celanese Corp. by 123.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,339 shares of the company’s stock worth $153,000 after buying an additional 1,290 shares during the period. Finally, Advisor Group Inc. acquired a new position in shares of Celanese Corp. during the second quarter worth $152,000. 95.96% of the stock is owned by institutional investors and hedge funds.
Shares of Celanese Corp. (NYSE:CE) traded up 1.17% during trading on Wednesday, hitting $65.98. The company had a trading volume of 546,712 shares. Celanese Corp. has a 52-week low of $55.07 and a 52-week high of $74.55. The firm has a market capitalization of $9.55 billion, a P/E ratio of 28.65 and a beta of 1.61. The stock’s 50-day moving average is $64.20 and its 200 day moving average is $67.32.
Celanese Corp. (NYSE:CE) last issued its quarterly earnings data on Monday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.03. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.42 billion. Celanese Corp. had a return on equity of 30.07% and a net margin of 6.20%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 earnings per share. Equities research analysts predict that Celanese Corp. will post $6.54 earnings per share for the current fiscal year.
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.
Receive News & Ratings for Celanese Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese Corp. and related companies with MarketBeat.com's FREE daily email newsletter.