Celanese Co. (NYSE:CE) has been given a consensus recommendation of “Hold” by the twenty analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $114.88.
Several brokerages have recently weighed in on CE. Zacks Investment Research raised Celanese from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. ValuEngine raised Celanese from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. BMO Capital Markets lowered Celanese from an “outperform” rating to a “market perform” rating and set a $107.00 price objective on the stock. in a report on Tuesday, January 8th. KeyCorp decreased their price objective on Celanese from $145.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, January 30th. Finally, Robert W. Baird reissued a “buy” rating and set a $120.00 price objective on shares of Celanese in a report on Wednesday, January 30th.
Shares of NYSE:CE traded down $0.25 during trading on Thursday, hitting $105.19. 896,500 shares of the stock were exchanged, compared to its average volume of 1,123,516. Celanese has a 1-year low of $82.91 and a 1-year high of $119.29. The firm has a market capitalization of $13.61 billion, a PE ratio of 9.56, a PEG ratio of 1.00 and a beta of 1.32. 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 (NYSE:CE) last announced its quarterly earnings data on Monday, January 28th. The basic materials company reported $2.38 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $1.98 EPS. Celanese’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Celanese will post 10.41 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Celanese by 21.5% in the third quarter. JPMorgan Chase & Co. now owns 2,084,382 shares of the basic materials company’s stock worth $237,621,000 after purchasing an additional 369,361 shares in the last quarter. Martingale Asset Management L P acquired a new position in Celanese in the third quarter worth $2,032,000. Virtu Financial LLC acquired a new position in Celanese in the third quarter worth $398,000. Dimensional Fund Advisors LP boosted its stake in Celanese by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 766,870 shares of the basic materials company’s stock worth $87,422,000 after purchasing an additional 22,814 shares in the last quarter. Finally, GAM Holding AG boosted its stake in Celanese by 76.6% in the third quarter. GAM Holding AG now owns 3,292 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 1,428 shares in the last quarter. 96.45% of the stock is currently owned by institutional investors and hedge funds.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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