KeyCorp Initiates Coverage on Celanese Corp. (CE)
Research analysts at KeyCorp began coverage on shares of Celanese Corp. (NYSE:CE) in a note issued to investors on Thursday. The brokerage set an “overweight” rating on the stock.
CE has been the subject of several other research reports. Zacks Investment Research cut Celanese Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. Jefferies Group restated a “buy” rating on shares of Celanese Corp. in a report on Tuesday, August 23rd. Nomura restated a “hold” rating on shares of Celanese Corp. in a report on Tuesday, July 12th. Citigroup Inc. cut their price target on Celanese Corp. from $82.00 to $81.00 and set a “buy” rating for the company in a report on Friday, July 15th. Finally, Royal Bank Of Canada cut their price target on Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $73.83.
Celanese Corp. (NYSE:CE) traded up 1.09% during trading on Thursday, hitting $66.58. The stock had a trading volume of 1,228,289 shares. The stock has a 50 day moving average price of $64.20 and a 200-day moving average price of $67.30. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 28.91 and a beta of 1.61. Celanese Corp. has a 12 month low of $55.07 and a 12 month high of $74.55.
Celanese Corp. (NYSE:CE) last released its earnings results on Monday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the 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 earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business posted $1.58 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. On average, equities analysts predict that Celanese Corp. will post $6.54 EPS for the current year.
A number of large investors have recently modified their holdings of CE. Telemus Capital LLC raised its stake in shares of Celanese Corp. by 4.1% in the third quarter. Telemus Capital LLC now owns 58,934 shares of the company’s stock worth $3,923,000 after buying an additional 2,315 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Celanese Corp. by 40.3% in the third quarter. BNP Paribas Arbitrage SA now owns 63,307 shares of the company’s stock worth $4,214,000 after buying an additional 18,199 shares during the period. Eqis Capital Management Inc. increased its position in shares of Celanese Corp. by 1.5% in the third quarter. Eqis Capital Management Inc. now owns 6,727 shares of the company’s stock worth $448,000 after buying an additional 101 shares in the last quarter. Evercore Wealth Management LLC increased its position 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 in the last quarter. Finally, Wolverine Asset Management LLC increased its position 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 in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Celanese Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese Corp. and related stocks with our FREE daily email newsletter.