BMO Capital Markets cut shares of Celanese (NYSE:CE) from an outperform rating to a market perform rating in a report issued on Tuesday morning, MarketBeat Ratings reports. The firm currently has $107.00 price objective on the basic materials company’s stock.

A number of other research analysts have also weighed in on the company. Zacks Investment Research restated a hold rating on shares of Celanese in a report on Monday, December 31st. Alembic Global Advisors restated a sell rating on shares of Celanese in a report on Thursday, December 20th. Royal Bank of Canada restated a buy rating and issued a $118.00 target price on shares of Celanese in a report on Thursday, December 20th. Stifel Nicolaus assumed coverage on Celanese in a report on Monday, December 10th. They issued a hold rating and a $100.00 target price on the stock. Finally, Cowen increased their price target on Celanese from $125.00 to $130.00 and gave the company an outperform rating in a research report on Friday, October 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Celanese presently has a consensus rating of Hold and an average price target of $117.42.

NYSE:CE traded up $0.39 on Tuesday, hitting $94.82. The stock had a trading volume of 26,344 shares, compared to its average volume of 2,770,038. The firm has a market cap of $12.58 billion, a P/E ratio of 12.59, a PEG ratio of 0.84 and a beta of 1.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.40 and a current ratio of 2.08. Celanese has a 52 week low of $82.91 and a 52 week high of $119.29.

Celanese (NYSE:CE) last announced its quarterly earnings results on Thursday, October 18th. The basic materials company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.22. Celanese had a return on equity of 39.39% and a net margin of 18.57%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the company earned $1.93 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts forecast that Celanese will post 11.09 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Celanese by 0.8% in the third quarter. BlackRock Inc. now owns 7,339,316 shares of the basic materials company’s stock worth $836,683,000 after acquiring an additional 58,068 shares during the period. Lyrical Asset Management LP boosted its holdings in shares of Celanese by 3.6% in the third quarter. Lyrical Asset Management LP now owns 3,470,638 shares of the basic materials company’s stock worth $395,653,000 after acquiring an additional 122,213 shares during the period. LSV Asset Management boosted its holdings in shares of Celanese by 1.7% in the third quarter. LSV Asset Management now owns 2,474,039 shares of the basic materials company’s stock worth $282,040,000 after acquiring an additional 42,067 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Celanese by 21.5% in the third quarter. JPMorgan Chase & Co. now owns 2,084,382 shares of the basic materials company’s stock worth $237,621,000 after acquiring an additional 369,361 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Celanese by 76.2% in the second quarter. Millennium Management LLC now owns 2,005,758 shares of the basic materials company’s stock worth $222,759,000 after acquiring an additional 867,269 shares during the period. 96.39% of the stock is owned by institutional investors and hedge funds.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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Analyst Recommendations for Celanese (NYSE:CE)

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