November 30, 2016 - By Marguerite Chambers
Goldman Sachs gave Celanese (CE) shares a new “Buy” rating in a a note published on Wednesday morning. This is raise from the previous “Neutral” rating.
Out of 2 analysts covering Celanese (CE), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Celanese has been the topic of 2 analyst reports since September 7, 2016 according to StockzIntelligence Inc. The stock has “Overweight” rating given by KeyBanc Capital Markets on Friday, October 7. The rating was downgraded by Citigroup to “Neutral” on Wednesday, September 7.
About 238,590 shares traded hands. Celanese Corporation (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 earnings per share, up 20.00% or $0.25 from last year’s $1.25 per share. CE’s profit will be $212.97 million for 13.25 P/E if the $1.50 EPS becomes a reality. After $1.67 actual earnings per share 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 2016 Q2. 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.
Afam owns 109,200 shares or 1.18% of their US portfolio. Janney Montgomery Scott Ltd Llc owns 104,842 shares or 0.11% of their US portfolio. Martingale Asset Lp, a Massachusetts-based fund reported 112,026 shares. Fuller And Thaler Asset Inc last reported 1.40 million shares in the company. The California-based Globeflex Ltd Partnership has invested 0.21% in Celanese Corporation (NYSE:CE). Pub Employees Retirement Association Of Colorado accumulated 31,445 shares or 0.02% of the stock. Moreover, Stifel Corp has 0.02% invested in Celanese Corporation (NYSE:CE) for 50,730 shares. Moreover, Vanguard Gp Incorporated has 0.04% invested in Celanese Corporation (NYSE:CE) for 11.04 million shares. First Interstate Savings Bank, a Montana-based fund reported 360 shares. Schroder Investment Group has 0% invested in the company for 6,657 shares. Whittier Com has 5,000 shares for 0.01% of their US portfolio. Asset Mgmt accumulated 4,121 shares or 0.01% of the stock. Bessemer Group holds 0% or 1,964 shares in its portfolio. First Republic Invest Management holds 0.05% or 71,391 shares in its portfolio. Nippon Life Glob Investors Americas reported 51,350 shares or 0.32% of all its holdings.
Celanese Corporation is a technology and specialty materials company. The company has a market cap of $11.28 billion. The Firm operates through four divisions: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. It has a 26.2 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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