Celanese (NYSE:CE) Raised to Buy at Vertical Research

Celanese (NYSE:CE) was upgraded by stock analysts at Vertical Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.

Several other research analysts have also weighed in on the company. Bank of America raised Celanese from a “neutral” rating to a “buy” rating in a research report on Monday. Wells Fargo & Co cut their price objective on Celanese from to in a research report on Wednesday, March 18th. KeyCorp assumed coverage on Celanese in a research report on Wednesday. They issued a “sector weight” rating on the stock. Robert W. Baird cut their price objective on Celanese from $135.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Stifel Nicolaus cut their price objective on Celanese from $103.00 to $83.00 and set a “hold” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Celanese presently has a consensus rating of “Hold” and an average target price of $111.63.

Shares of CE stock traded up $2.56 during mid-day trading on Thursday, hitting $75.43. 154,314 shares of the company’s stock were exchanged, compared to its average volume of 1,502,969. Celanese has a fifty-two week low of $52.70 and a fifty-two week high of $128.88. The stock has a 50-day simple moving average of $92.29 and a two-hundred day simple moving average of $114.04. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 1.24. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.14 and a beta of 1.31.

Celanese (NYSE:CE) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.10). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Celanese had a return on equity of 37.36% and a net margin of 13.53%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the business posted $2.38 earnings per share. As a group, analysts anticipate that Celanese will post 10.51 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of CE. Capital International Investors boosted its stake in Celanese by 8.8% in the fourth quarter. Capital International Investors now owns 7,093,881 shares of the basic materials company’s stock valued at $873,399,000 after acquiring an additional 575,989 shares during the period. Artisan Partners Limited Partnership boosted its stake in Celanese by 0.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,031,985 shares of the basic materials company’s stock valued at $250,178,000 after acquiring an additional 10,940 shares during the period. Franklin Resources Inc. boosted its stake in Celanese by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 1,308,357 shares of the basic materials company’s stock valued at $161,085,000 after acquiring an additional 4,102 shares during the period. Norges Bank acquired a new position in Celanese in the fourth quarter valued at approximately $121,772,000. Finally, TD Asset Management Inc. boosted its stake in Celanese by 3.8% in the fourth quarter. TD Asset Management Inc. now owns 760,491 shares of the basic materials company’s stock valued at $93,632,000 after acquiring an additional 27,922 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.

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