Celanese (NYSE:CE) had its price target upped by equities research analysts at BMO Capital Markets to $137.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price indicates a potential upside of 23.21% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Celanese from $88.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Wednesday, April 11th. Deutsche Bank reiterated a “buy” rating and set a $128.00 price target on shares of Celanese in a report on Monday, January 29th. Jefferies Group reiterated a “buy” rating and set a $130.00 price target on shares of Celanese in a report on Monday, January 29th. Finally, KeyCorp lifted their price target on shares of Celanese from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.82.
Shares of NYSE CE opened at $111.19 on Wednesday. The stock has a market cap of $15,134.09, a PE ratio of 13.13, a PEG ratio of 1.38 and a beta of 1.33. Celanese has a 12 month low of $83.34 and a 12 month high of $114.00. The company has a quick ratio of 1.21, a current ratio of 1.88 and a debt-to-equity ratio of 0.91.
Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, April 16th. The basic materials company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.46. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.66 billion. Celanese had a net margin of 15.69% and a return on equity of 35.22%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 earnings per share. research analysts predict that Celanese will post 9.02 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in CE. Amundi Pioneer Asset Management Inc. grew its stake in Celanese by 37.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,114,498 shares of the basic materials company’s stock worth $119,340,000 after buying an additional 302,015 shares during the period. Victory Capital Management Inc. grew its stake in Celanese by 10.5% during the fourth quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock worth $238,797,000 after buying an additional 212,134 shares during the period. Baird Financial Group Inc. purchased a new stake in Celanese during the fourth quarter worth approximately $20,909,000. Forsta AP Fonden purchased a new stake in Celanese during the fourth quarter worth approximately $12,314,000. Finally, Standard Life Aberdeen plc grew its stake in Celanese by 14.0% during the fourth quarter. Standard Life Aberdeen plc now owns 928,740 shares of the basic materials company’s stock worth $99,454,000 after buying an additional 113,775 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.
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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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