Celanese Corporation (NYSE:CE) has earned an average recommendation of “Buy” from the nineteen analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $102.74.
A number of research firms have recently weighed in on CE. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $109.00 price objective on shares of Celanese Corporation in a research note on Wednesday, September 6th. ValuEngine raised Celanese Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and issued a $106.00 price objective on shares of Celanese Corporation in a research note on Thursday, August 24th. BidaskClub raised Celanese Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Celanese Corporation in a research note on Wednesday, August 9th.
Celanese Corporation (CE) traded down 0.18% during mid-day trading on Wednesday, hitting $98.90. The company’s stock had a trading volume of 92,923 shares. The company’s 50 day moving average is $96.95 and its 200-day moving average is $92.11. The stock has a market cap of $13.60 billion, a P/E ratio of 16.83 and a beta of 1.28. Celanese Corporation has a 52-week low of $60.59 and a 52-week high of $99.97.
Celanese Corporation (NYSE:CE) last released its quarterly earnings data on Monday, July 24th. The basic materials company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.44 billion. Celanese Corporation had a return on equity of 31.23% and a net margin of 14.89%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 earnings per share. On average, equities analysts predict that Celanese Corporation will post $7.33 EPS for the current fiscal year.
Celanese Corporation announced that its Board of Directors has authorized a stock repurchase program on Monday, July 17th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank grew its stake in Celanese Corporation by 8.4% in the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after purchasing an additional 134 shares in the last quarter. WINTON GROUP Ltd bought a new position in Celanese Corporation in the second quarter worth approximately $699,000. Koch Industries Inc. bought a new position in Celanese Corporation in the second quarter worth approximately $289,000. National Asset Management Inc. grew its stake in Celanese Corporation by 60.3% in the second quarter. National Asset Management Inc. now owns 5,002 shares of the basic materials company’s stock worth $475,000 after purchasing an additional 1,882 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Celanese Corporation by 13.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 5,222 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.
Celanese Corporation Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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