Celanese (NYSE:CE) Price Target Increased to $138.00 by Analysts at Jefferies Financial Group

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Celanese (NYSE:CE) had its price target raised by Jefferies Financial Group to $138.00 in a report published on Monday, June 18th. The firm currently has a buy rating on the basic materials company’s stock. Jefferies Financial Group also issued estimates for Celanese’s Q2 2018 earnings at $2.52 EPS, Q3 2018 earnings at $2.75 EPS, Q4 2018 earnings at $2.35 EPS and FY2018 earnings at $10.40 EPS.

A number of other research analysts have also weighed in on CE. Zacks Investment Research upgraded Celanese from a hold rating to a buy rating and set a $117.00 price objective on the stock in a report on Wednesday, April 11th. Cowen restated an outperform rating and issued a $125.00 price objective (up previously from $120.00) on shares of Celanese in a report on Friday, May 4th. KeyCorp raised their price objective on Celanese from $128.00 to $131.00 and gave the company an overweight rating in a report on Wednesday, March 21st. ValuEngine downgraded Celanese from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Finally, BMO Capital Markets raised their target price on Celanese to $137.00 and gave the stock an outperform rating in a research note on Wednesday, April 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Celanese currently has an average rating of Buy and a consensus target price of $117.25.

Celanese opened at $111.11 on Monday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.28 and a current ratio of 1.88. Celanese has a 12 month low of $91.15 and a 12 month high of $118.40. The company has a market capitalization of $15.49 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.35 and a beta of 1.32.

Celanese (NYSE:CE) last released its quarterly earnings data on Monday, April 16th. The basic materials company reported $2.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.46. Celanese had a return on equity of 35.22% and a net margin of 15.69%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. sell-side analysts expect that Celanese will post 9.46 earnings per share for the current year.

In related news, EVP Peter G. Edwards sold 3,674 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $115.44, for a total transaction of $424,126.56. Following the completion of the transaction, the executive vice president now directly owns 12,160 shares in the company, valued at approximately $1,403,750.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CE. SG Americas Securities LLC purchased a new position in shares of Celanese in the 4th quarter valued at about $726,000. Sei Investments Co. boosted its stake in shares of Celanese by 2.8% in the 4th quarter. Sei Investments Co. now owns 135,206 shares of the basic materials company’s stock valued at $14,478,000 after buying an additional 3,664 shares during the period. First Trust Advisors LP boosted its stake in shares of Celanese by 25.2% in the 4th quarter. First Trust Advisors LP now owns 186,106 shares of the basic materials company’s stock valued at $19,928,000 after buying an additional 37,427 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Celanese by 19.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,368 shares of the basic materials company’s stock valued at $789,000 after buying an additional 1,193 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Celanese by 37.6% in the 4th quarter. Toronto Dominion Bank now owns 8,106 shares of the basic materials company’s stock valued at $868,000 after buying an additional 2,216 shares during the period. Institutional investors and hedge funds own 94.14% of the company’s stock.

About Celanese

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.

Analyst Recommendations for Celanese (NYSE:CE)

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