ValuEngine Downgrades Celanese (CE) to Sell

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Celanese (NYSE:CE) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Other equities research analysts also recently issued research reports about the company. Nomura decreased their price objective on Celanese from $120.00 to $108.00 and set a “neutral” rating for the company in a report on Monday, October 15th. Royal Bank of Canada reiterated a “buy” rating and set a $118.00 price target on shares of Celanese in a report on Thursday, December 20th. SunTrust Banks downgraded Celanese from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Vertical Research raised Celanese from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday, October 17th. Finally, Stifel Nicolaus assumed coverage on Celanese in a research report on Monday, December 10th. They set a “hold” rating and a $100.00 price target on the stock. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $115.24.

Shares of NYSE CE opened at $98.82 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.03 and a debt-to-equity ratio of 0.88. Celanese has a 52 week low of $82.91 and a 52 week high of $119.29. The firm has a market capitalization of $13.28 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.92 and a beta of 1.31.

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

Several institutional investors and hedge funds have recently modified their holdings of CE. Acima Private Wealth LLC acquired a new stake in Celanese during the 4th quarter worth about $31,000. Baystate Wealth Management LLC grew its position in shares of Celanese by 200.9% during the 4th quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 221 shares during the period. Pearl River Capital LLC purchased a new position in Celanese in the 4th quarter valued at about $36,000. Prime Capital Investment Advisors LLC purchased a new position in Celanese in the 4th quarter valued at about $37,000. Finally, Doyle Wealth Management purchased a new position in Celanese in the 4th quarter valued at about $62,000. Hedge funds and other institutional investors own 96.22% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Celanese (NYSE:CE)

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