Celanese (CE) Receives Buy Rating from SunTrust Banks

Celanese (NYSE:CE)‘s stock had its “buy” rating reaffirmed by research analysts at SunTrust Banks in a report issued on Wednesday.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Monday, December 18th. Tudor Pickering began coverage on shares of Celanese in a research report on Tuesday, November 14th. They set a “buy” rating for the company. Cowen reaffirmed a “buy” rating on shares of Celanese in a research report on Sunday, October 29th. Jefferies Group reaffirmed a “buy” rating and set a $122.00 price objective on shares of Celanese in a research report on Thursday, October 19th. Finally, Citigroup cut their price objective on shares of Celanese from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $108.17.

Shares of Celanese (NYSE:CE) opened at $109.67 on Wednesday. Celanese has a 52-week low of $81.01 and a 52-week high of $112.43. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69. The firm has a market cap of $14,880.00, a PE ratio of 18.84, a P/E/G ratio of 1.50 and a beta of 1.32.

Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.01. Celanese had a net margin of 13.66% and a return on equity of 31.98%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business posted $1.67 earnings per share. Celanese’s revenue was up 18.4% compared to the same quarter last year. analysts expect that Celanese will post 7.37 EPS for the current fiscal year.

In related news, CFO Christopher W. Jensen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the chief financial officer now owns 52,924 shares in the company, valued at approximately $5,821,640. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Christopher W. Jensen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the completion of the transaction, the chief financial officer now owns 60,086 shares of the company’s stock, valued at approximately $6,289,802.48. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock valued at $699,380 in the last three months. Company insiders own 0.42% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Celanese by 24.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock valued at $101,000 after buying an additional 206 shares during the last quarter. First PREMIER Bank raised its holdings in Celanese by 900.0% in the 4th quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock valued at $107,000 after buying an additional 900 shares during the last quarter. Toronto Dominion Bank raised its holdings in Celanese by 8.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock valued at $164,000 after buying an additional 134 shares during the last quarter. Peapack Gladstone Financial Corp bought a new position in Celanese in the 2nd quarter valued at approximately $212,000. Finally, Advisor Group Inc. raised its holdings in Celanese by 46.9% in the 2nd quarter. Advisor Group Inc. now owns 2,241 shares of the basic materials company’s stock valued at $212,000 after buying an additional 715 shares during the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

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About Celanese

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.

Analyst Recommendations for Celanese (NYSE:CE)

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