November 30, 2016 - By Clifton Ray
Trading of Celanese (NYSE:CE)‘s shares is going to be interesting today. Goldman upgraded the stock from a Neutral to a Buy.
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 -8.37% below today’s ($79.34) stock price. Celanese has been the topic of 25 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, November 16 by UBS. The stock of Celanese Corporation (NYSE:CE) has “Outperform” rating given on Friday, April 29 by Cowen & Co. The firm has “Sector Perform” rating by RBC Capital Markets given on Wednesday, October 21. The firm has “Neutral” rating given on Friday, January 22 by UBS. The rating was downgraded by Goldman Sachs on Monday, October 12 to “Neutral”. The company was maintained on Friday, January 29 by Cowen & Co. RBC Capital Markets initiated it with “Sector Perform” rating and $68 target price in Wednesday, October 14 report. Nomura maintained Celanese Corporation (NYSE:CE) rating on Wednesday, October 19. Nomura has “Neutral” rating and $77 price target. The firm has “Buy” rating given on Wednesday, November 18 by Deutsche Bank. The rating was maintained by Citigroup with “Buy” on Monday, April 18.
About 200,462 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 13.22 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 turned negative, 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.
Point72 Asset Mngmt Limited Partnership has 365,100 shares for 0.16% of their US portfolio. Wealthtrust, a Alabama-based fund reported 1,102 shares. Artemis Invest Llp has 420,600 shares for 0.45% of their US portfolio. Glob X Company Limited Liability Corp accumulated 0.08% or 24,674 shares. Glg Ltd Limited Liability Company accumulated 0.04% or 8,578 shares. Cubist Systematic Strategies Limited Liability Co holds 0.09% of its portfolio in Celanese Corporation (NYSE:CE) for 24,521 shares. Gulf Fincl Bank (Uk) last reported 42,615 shares in the company. Jpmorgan Chase And has 0.01% invested in the company for 320,368 shares. Jane Street Grp Inc Ltd Com has 5,606 shares for 0% of their US portfolio. Moreover, Benjamin F Edwards And has 0.03% invested in Celanese Corporation (NYSE:CE) for 2,585 shares. Cap One National Association accumulated 0.07% or 13,712 shares. The Texas-based Hbk Invests Ltd Partnership has invested 0.06% in Celanese Corporation (NYSE:CE). Parametrica Mngmt Ltd reported 3,278 shares or 0.32% of all its holdings. Investec Asset Mngmt North America holds 15,333 shares or 0.15% of its portfolio. Globeflex Lp accumulated 0.21% or 11,771 shares.
Celanese Corporation is a technology and specialty materials company. The company has a market cap of $11.26 billion. The Firm operates through four divisions: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. It has a 26.14 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 Clifton Ray