CE has been the subject of a number of other research reports. Zacks Investment Research cut shares of Celanese Corp. from a hold rating to a sell rating in a research note on Wednesday, September 14th. Jefferies Group reiterated a buy rating on shares of Celanese Corp. in a research note on Tuesday, August 23rd. Nomura reiterated a hold rating on shares of Celanese Corp. in a research note on Tuesday, July 12th. Citigroup Inc. decreased their price target on shares of Celanese Corp. from $82.00 to $81.00 and set a buy rating for the company in a research note on Friday, July 15th. Finally, Royal Bank Of Canada decreased 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 research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $74.19.
Celanese Corp. (NYSE:CE) last issued its quarterly earnings results on Monday, July 25th. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.03. The firm earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. Celanese Corp.’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS.
Several institutional investors have recently added to or reduced their stakes in the company. Societe Generale purchased a new position in Celanese Corp. during the second quarter valued at approximately $111,000. Bessemer Group Inc. increased its stake in Celanese Corp. by 22.5% in the first quarter. Bessemer Group Inc. now owns 1,964 shares of the company’s stock valued at $129,000 after buying an additional 361 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Celanese Corp. during the second quarter valued at $133,000. Advisor Group Inc. bought a new stake in Celanese Corp. during the second quarter valued at $152,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in Celanese Corp. by 123.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,339 shares of the company’s stock valued at $153,000 after buying an additional 1,290 shares during the last quarter. Institutional investors and hedge funds 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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