Celanese (NYSE:CE) Raised to “Hold” at ValuEngine

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ValuEngine upgraded shares of Celanese (NYSE:CE) from a sell rating to a hold rating in a research report report published on Wednesday, ValuEngine reports.

A number of other research firms have also recently weighed in on CE. Zacks Investment Research cut shares of Celanese from a buy rating to a hold rating in a report on Thursday, April 25th. BMO Capital Markets increased their price objective on shares of Celanese from $107.00 to $126.00 and gave the stock a market perform rating in a report on Wednesday, April 24th. Alembic Global Advisors set a $95.00 price objective on shares of Celanese and gave the stock a sell rating in a report on Monday, April 22nd. Barclays dropped their price objective on shares of Celanese from $125.00 to $120.00 and set an overweight rating on the stock in a report on Tuesday, April 9th. Finally, Nomura increased their price objective on shares of Celanese from $109.00 to $114.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Celanese has a consensus rating of Hold and an average price target of $119.53.

Shares of NYSE:CE opened at $104.19 on Wednesday. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38. Celanese has a 1-year low of $82.91 and a 1-year high of $119.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58.

Celanese (NYSE:CE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.13. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 earnings per share. As a group, equities research analysts anticipate that Celanese will post 10.53 EPS for the current year.

In other news, Director John K. Wulff sold 9,175 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the completion of the transaction, the director now owns 19,872 shares in the company, valued at approximately $2,152,535.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of CE. Acima Private Wealth LLC lifted its position in shares of Celanese by 28.6% in the first quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 100 shares in the last quarter. Avitas Wealth Management LLC raised its position in Celanese by 0.4% during the first quarter. Avitas Wealth Management LLC now owns 27,611 shares of the basic materials company’s stock valued at $2,723,000 after acquiring an additional 103 shares in the last quarter. HighTower Advisors LLC raised its position in Celanese by 1.7% during the first quarter. HighTower Advisors LLC now owns 6,470 shares of the basic materials company’s stock valued at $634,000 after acquiring an additional 109 shares in the last quarter. Parallel Advisors LLC raised its position in Celanese by 12.1% during the fourth quarter. Parallel Advisors LLC now owns 1,311 shares of the basic materials company’s stock valued at $117,000 after acquiring an additional 141 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC raised its position in Celanese by 1.6% during the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 11,325 shares of the basic materials company’s stock valued at $1,019,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.

About Celanese

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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