According to Zacks, “Celanese’s strategic measures including productivity and efficiency improvement actions should lend support to its earnings in 2016. The company should also gain from capacity expansion and growth initiatives in the emerging regions, including Asia. Moreover, Celanese continues to generate strong cash flows and remains focused on returning value to its shareholders. However, the company is exposed to pricing pressure and volatility in raw material costs. Moreover, Celanese is still witnessing soft acetyl demand in China given the sluggish economic conditions. Acetyl intermediates margins are expected to remain under pressure in the near term. The company's balance sheet leverage is also relatively high, limiting its financial flexibility.”
CE has been the topic of a number of other reports. Citigroup Inc. lowered Celanese Corp. from a buy rating to a neutral rating and lowered their price target for the company from $77.00 to $71.00 in a report on Wednesday, September 7th. Barclays PLC lowered their price target on Celanese Corp. from $82.00 to $76.00 and set an overweight rating on the stock in a report on Wednesday, July 27th. Jefferies Group reissued a buy rating on shares of Celanese Corp. in a report on Tuesday, August 23rd. Royal Bank Of Canada lowered their price target on Celanese Corp. from $76.00 to $72.00 and set a sector perform rating on the stock in a report on Thursday, July 28th. Finally, Nomura reissued a hold rating on shares of Celanese Corp. in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $73.83.
Celanese Corp. (NYSE:CE) opened at 65.62 on Monday. The company has a 50-day moving average of $64.24 and a 200 day moving average of $67.27. Celanese Corp. has a 52 week low of $55.07 and a 52 week high of $74.55. The firm has a market cap of $9.50 billion, a P/E ratio of 28.49 and a beta of 1.85.
Celanese Corp. (NYSE:CE) last issued its earnings results on Monday, July 25th. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.03. Celanese Corp. had a return on equity of 30.07% and a net margin of 6.20%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company earned $1.58 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities analysts predict that Celanese Corp. will post $6.54 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the company. Evercore Wealth Management LLC raised its stake in shares of Celanese Corp. by 2.2% in the second quarter. Evercore Wealth Management LLC now owns 609,816 shares of the company’s stock worth $39,913,000 after buying an additional 12,920 shares during the last quarter. Wolverine Asset Management LLC raised its stake in shares of Celanese Corp. by 100.0% in the second quarter. Wolverine Asset Management LLC now owns 30,000 shares of the company’s stock worth $1,963,000 after buying an additional 15,000 shares during the last quarter. Optimum Investment Advisors acquired a new stake in shares of Celanese Corp. during the second quarter worth approximately $1,052,000. Royal Bank of Canada raised its stake in shares of Celanese Corp. by 17.6% in the second quarter. Royal Bank of Canada now owns 339,023 shares of the company’s stock worth $22,187,000 after buying an additional 50,687 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Celanese Corp. by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 227,146 shares of the company’s stock worth $14,867,000 after buying an additional 10,539 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.
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.
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