Celanese Corporation (NYSE:CE) had its target price upped by Nomura from $97.00 to $100.00 in a report published on Tuesday morning. They currently have a neutral rating on the basic materials company’s stock.
A number of other brokerages have also issued reports on CE. ValuEngine lowered Celanese Corporation from a strong-buy rating to a buy rating in a report on Friday, October 6th. BidaskClub lowered Celanese Corporation from a buy rating to a hold rating in a report on Monday, July 31st. UBS AG reissued a neutral rating and issued a $100.00 price objective (up from $95.00) on shares of Celanese Corporation in a report on Tuesday, July 25th. Cowen and Company reissued an outperform rating and issued a $115.00 price objective (up from $100.00) on shares of Celanese Corporation in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co reissued a neutral rating and issued a $97.00 price objective (up from $90.00) on shares of Celanese Corporation in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Celanese Corporation currently has a consensus rating of Buy and a consensus target price of $103.24.
Shares of Celanese Corporation (NYSE CE) opened at 106.90 on Tuesday. The company has a 50 day moving average price of $101.32 and a 200-day moving average price of $94.21. Celanese Corporation has a 1-year low of $63.02 and a 1-year high of $109.09. The stock has a market capitalization of $14.70 billion, a P/E ratio of 18.19 and a beta of 1.31.
Celanese Corporation (NYSE:CE) last issued its quarterly earnings data on Monday, July 24th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.03. Celanese Corporation had a return on equity of 31.23% and a net margin of 14.89%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company posted $1.59 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that Celanese Corporation will post $7.33 EPS for the current fiscal year.
Celanese Corporation announced that its Board of Directors has approved a share repurchase plan on Monday, July 17th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 10.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Large investors have recently made changes to their positions in the company. Neuberger Berman Group LLC acquired a new stake in shares of Celanese Corporation during the 1st quarter valued at $217,000. Morgan Stanley lifted its position in shares of Celanese Corporation by 84.9% during the 1st quarter. Morgan Stanley now owns 395,279 shares of the basic materials company’s stock valued at $35,514,000 after acquiring an additional 181,484 shares during the last quarter. Uniplan Investment Counsel Inc. acquired a new stake in shares of Celanese Corporation during the 2nd quarter valued at $15,843,000. Swiss National Bank lifted its position in shares of Celanese Corporation by 1.2% during the 2nd quarter. Swiss National Bank now owns 513,530 shares of the basic materials company’s stock valued at $48,755,000 after acquiring an additional 6,100 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its position in shares of Celanese Corporation by 32.4% during the 1st quarter. Nomura Holdings Inc. now owns 3,414 shares of the basic materials company’s stock valued at $307,000 after acquiring an additional 835 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.
Celanese Corporation Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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