Celanese (NYSE:CE) Receives New Coverage from Analysts at KeyCorp

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Research analysts at KeyCorp initiated coverage on shares of Celanese (NYSE:CE) in a research note issued on Wednesday, The Fly reports. The brokerage set a “sector weight” rating on the basic materials company’s stock.

Several other equities analysts have also recently issued reports on the stock. TheStreet cut shares of Celanese from a “b” rating to a “c+” rating in a research note on Friday, January 31st. Scotiabank started coverage on shares of Celanese in a research note on Wednesday, March 18th. They set a “buy” rating and a $117.00 target price on the stock. ValuEngine cut shares of Celanese from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Deutsche Bank lowered their price objective on shares of Celanese from $124.00 to $113.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Citigroup upgraded shares of Celanese from a “neutral” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $111.63.

CE traded up $5.96 during midday trading on Wednesday, hitting $72.87. 1,430,265 shares of the company traded hands, compared to its average volume of 1,102,517. 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 firm has a market capitalization of $7.44 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 0.90 and a beta of 1.31. The company’s 50-day moving average is $92.98 and its 200 day moving average is $114.26. Celanese has a 52 week low of $52.70 and a 52 week high of $128.88.

Celanese (NYSE:CE) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.10). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.52 billion. Celanese had a net margin of 13.53% and a return on equity of 37.36%. Celanese’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.38 EPS. On average, sell-side analysts predict that Celanese will post 10.51 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Hall Laurie J Trustee purchased a new stake in Celanese in the 4th quarter worth approximately $25,000. Solstein Capital LLC bought a new stake in shares of Celanese during the fourth quarter valued at approximately $27,000. Americana Partners LLC purchased a new position in shares of Celanese in the fourth quarter worth $63,000. CKW Financial Group purchased a new position in shares of Celanese in the fourth quarter worth $68,000. Finally, CSat Investment Advisory L.P. boosted its position in shares of Celanese by 25.6% during the fourth quarter. CSat Investment Advisory L.P. now owns 569 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 116 shares during the last quarter. 96.31% of the stock is owned by institutional investors.

Celanese Company Profile

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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Analyst Recommendations for Celanese (NYSE:CE)

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