Celanese (CE) PT Set at $103.00 by Alembic Global Advisors

Celanese (NYSE:CE) received a $103.00 price target from research analysts at Alembic Global Advisors in a research report issued on Thursday. The brokerage currently has a “sell” rating on the basic materials company’s stock. Alembic Global Advisors’ price objective suggests a potential upside of 3.39% from the stock’s previous close.

Several other analysts also recently commented on CE. Zacks Investment Research downgraded Celanese from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 24th. Barclays upped their price objective on Celanese from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, July 30th. Citigroup upped their price objective on Celanese from $130.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. ValuEngine downgraded Celanese from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Morgan Stanley upped their price objective on Celanese from $112.00 to $120.00 and gave the company a “$113.06” rating in a research note on Monday, July 23rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $123.11.

Celanese stock opened at $99.62 on Thursday. Celanese has a fifty-two week low of $95.45 and a fifty-two week high of $119.29. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $13.47 billion, a PE ratio of 13.26, a PEG ratio of 0.93 and a beta of 1.30.

Celanese (NYSE:CE) last posted its earnings results on Thursday, October 18th. The basic materials company reported $2.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.22. Celanese had a return on equity of 37.74% and a net margin of 16.57%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the business earned $1.93 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities research analysts expect that Celanese will post 10.74 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Standard Life Aberdeen plc grew its holdings in shares of Celanese by 52.6% in the 2nd quarter. Standard Life Aberdeen plc now owns 2,815,551 shares of the basic materials company’s stock worth $312,695,000 after acquiring an additional 969,914 shares during the period. Redwood Investments LLC acquired a new stake in shares of Celanese in the 2nd quarter worth approximately $2,393,000. Dimensional Fund Advisors LP grew its holdings in shares of Celanese by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 744,056 shares of the basic materials company’s stock worth $82,635,000 after acquiring an additional 4,974 shares during the period. Global X Management Co LLC grew its holdings in shares of Celanese by 19.6% in the 2nd quarter. Global X Management Co LLC now owns 12,012 shares of the basic materials company’s stock worth $1,334,000 after acquiring an additional 1,968 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Celanese by 7.5% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 24,185 shares of the basic materials company’s stock worth $2,686,000 after acquiring an additional 1,679 shares during the period. 94.96% 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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