Celanese Corp. (NYSE:CE) – Research analysts at Credit Agricole SA increased their FY2016 earnings per share (EPS) estimates for shares of Celanese Corp. in a research note issued to investors on Wednesday. Credit Agricole SA analyst N. Wallin now expects that the firm will post earnings per share of $6.50 for the year, up from their prior forecast of $6.45. Credit Agricole SA also issued estimates for Celanese Corp.’s FY2018 earnings at $7.30 EPS.
Several other brokerages have also commented on CE. Royal Bank Of Canada cut their price target on shares of Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Thursday, July 28th. Zacks Investment Research raised shares of Celanese Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Citigroup Inc. lowered shares of Celanese Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $77.00 to $71.00 in a report on Wednesday, September 7th. Morgan Stanley reissued a “hold” rating and issued a $65.00 price target on shares of Celanese Corp. in a report on Thursday, June 16th. Finally, Susquehanna initiated coverage on shares of Celanese Corp. in a report on Friday, July 1st. They issued a “positive” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $73.83.
Celanese Corp. (NYSE:CE) opened at 66.56 on Friday. Celanese Corp. has a 1-year low of $55.07 and a 1-year high of $74.55. The company has a 50-day moving average of $64.25 and a 200 day moving average of $67.29. The stock has a market cap of $9.63 billion, a P/E ratio of 28.90 and a beta of 1.85.
Celanese Corp. (NYSE:CE) last posted its quarterly earnings results on Monday, July 25th. The company reported $1.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.03. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.42 billion. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Investec Asset Management LTD bought a new position in Celanese Corp. during the first quarter worth approximately $105,163,000. M&T Bank Corp boosted its position in Celanese Corp. by 45.0% in the first quarter. M&T Bank Corp now owns 14,079 shares of the company’s stock worth $922,000 after buying an additional 4,372 shares during the last quarter. Bessemer Group Inc. boosted its position in 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 last quarter. NN Investment Partners Holdings N.V. bought a new position in Celanese Corp. during the first quarter worth approximately $1,073,000. Finally, JPMorgan Chase & Co. boosted its position in Celanese Corp. by 94.2% in the first quarter. JPMorgan Chase & Co. now owns 344,613 shares of the company’s stock worth $22,571,000 after buying an additional 167,121 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.
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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