November 30, 2016 - By Darrin Black
In a an analyst note shared with investors today, Goldman Sachs upgraded shares of Celanese (NYSE:CE) to a Buy rating from Neutral rating. The firm currently has a $92.00 price target on the stock. Goldman Sachs’s price target gives a potential upside of 15.65% from the stock’s current price.
Out of 11 analysts covering Celanese (NYSE:CE), 6 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 55% are positive. $81 is the highest target while $64 is the lowest. The $72.70 average target is -8.61% below today’s ($79.55) stock price. Celanese has been the topic of 25 analyst reports since September 1, 2015 according to StockzIntelligence Inc. Cowen & Co upgraded Celanese Corporation (NYSE:CE) on Friday, April 29 to “Outperform” rating. The rating was maintained by Cowen & Co on Friday, January 29 with “Market Perform”. The firm has “Overweight” rating given on Monday, January 25 by Barclays Capital. The rating was initiated by KeyBanc Capital Markets with “Overweight” on Friday, October 7. The firm has “Buy” rating given on Monday, January 11 by SunTrust. The firm has “Sector Perform” rating by RBC Capital Markets given on Wednesday, October 21. The firm earned “Neutral” rating on Wednesday, October 19 by Nomura. The stock has “Market Perform” rating given by Cowen & Co on Monday, October 26. The stock has “Buy” rating given by Deutsche Bank on Wednesday, November 18. The stock of Celanese Corporation (NYSE:CE) earned “Outperform” rating by Macquarie Research on Tuesday, October 20.
About 551,857 shares traded hands. Celanese Corporation (NYSE:CE) has risen 7.92% since April 27, 2016 and is uptrending. It has outperformed by 2.69% the S&P500.
Analysts await Celanese Corporation (NYSE:CE) to report earnings on January, 19. They expect $1.50 EPS, up 20.00% or $0.25 from last year’s $1.25 per share. CE’s profit will be $212.88M for 13.26 P/E if the $1.50 EPS becomes a reality. After $1.67 actual EPS reported by Celanese Corporation for the previous quarter, Wall Street now forecasts -10.18% negative EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.54, from 1.39 in 2016Q1. The ratio dropped, as 24 funds sold all Celanese Corporation shares owned while 116 reduced positions. 41 funds bought stakes while 153 increased positions. They now own 137.11 million shares or 5.90% less from 145.72 million shares in 2016Q1.
Federated Pa accumulated 0.03% or 178,277 shares. Aqr Cap Mngmt Llc holds 1.03 million shares or 0.12% of its portfolio. Oakbrook Invests Limited Co last reported 3,100 shares in the company. Commonwealth National Bank Of Australia has 0.01% invested in the company for 10,512 shares. Robeco Institutional Asset Management Bv reported 46,231 shares or 0.02% of all its holdings. Quantum Capital Mgmt accumulated 0.03% or 3,756 shares. Gideon Cap Advisors Inc holds 4,369 shares or 0.17% of its portfolio. Gavekal Cap Ltd Llc holds 4.53% of its portfolio in Celanese Corporation (NYSE:CE) for 225,255 shares. Blackrock Fund Advisors has 0.02% invested in the company for 1.55M shares. Moreover, Toronto Dominion Financial Bank has 0% invested in Celanese Corporation (NYSE:CE) for 810 shares. Gam Hldgs Ag accumulated 5,372 shares or 0.01% of the stock. Nomura Asset Mngmt reported 17,670 shares or 0.02% of all its holdings. Mirae Asset Global Invests Ltd owns 26,520 shares or 0.04% of their US portfolio. Guggenheim Cap Lc accumulated 47,666 shares or 0.01% of the stock. Primecap Ca accumulated 827,300 shares or 0.06% of the stock.
Celanese Corporation is a technology and specialty materials company. The company has a market cap of $11.29 billion. The Firm operates through four divisions: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. It has a 26.21 P/E ratio. The Company’s business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical products.
According to Zacks Investment Research, “Celanese is an integrated global producer of value-added industrial chemicals. They are the world’s largest producer of acetyl products, including acetic acid, vinyl acetate monomer and polyacetals and a leading global producer of high-performance engineered polymers used in consumer and industrial products and designed to meet highly technical customer requirements. Their operations are located in North America, Europe and Asia, including substantial joint ventures in China.”
Celanese Corporation (Celanese), incorporated on November 3, 2004, is a technology and specialty materials company. The Firm operates through four divisions: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. The Company’s business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp into chemicals, thermoplastic polymers and other chemical products. The Firm engineers and makes a range of products, which serves a range of end-use applications, including paints and coatings, textiles, automotive applications, consumer and medical applications, performance industrial applications, filtration applications, paper and packaging, chemical additives, construction, consumer and industrial adhesives, and food and beverage applications. The Firm operates in North America, Europe and Asia, and consists of approximately 20 global production facilities, and approximately eight additional strategic affiliate production facilities.
More news for Celanese Corporation (NYSE:CE) were recently published by: Businesswire.com, which released: “U.S. International Trade Commission Votes to Investigate Unlawful Importation …” on November 23, 2016. Seekingalpha.com‘s article titled: “Celanese Corp: Too High To Buy?” and published on November 14, 2016 is yet another important article.
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By Darrin Black