ValuEngine downgraded shares of Celanese Corporation (NYSE:CE) from a strong-buy rating to a buy rating in a research note released on Friday morning.

A number of other equities research analysts also recently commented on the company. UBS AG reaffirmed a neutral rating and issued a $95.00 price objective (up previously from $90.00) on shares of Celanese Corporation in a research report on Thursday, June 22nd. Cowen and Company reaffirmed an outperform rating and issued a $115.00 price objective (up previously from $100.00) on shares of Celanese Corporation in a research report on Wednesday, August 9th. BidaskClub downgraded Celanese Corporation from a strong-buy rating to a buy rating in a research report on Monday, July 24th. J P Morgan Chase & Co reaffirmed a neutral rating and issued a $97.00 price objective (up previously from $90.00) on shares of Celanese Corporation in a research report on Tuesday, June 20th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $109.00 price objective on shares of Celanese Corporation in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $103.05.

Celanese Corporation (CE) traded down 0.28% during trading on Friday, hitting $107.92. The stock had a trading volume of 535,929 shares. The stock’s 50-day moving average is $100.69 and its 200 day moving average is $93.90. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 18.36 and a beta of 1.31. Celanese Corporation has a one year low of $63.02 and a one year high of $108.29.

Celanese Corporation (NYSE:CE) last released its quarterly earnings results on Monday, July 24th. The basic materials company reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.03. Celanese Corporation had a return on equity of 31.23% and a net margin of 14.89%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts anticipate that Celanese Corporation will post $7.33 earnings per share for the current year.

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Celanese Corporation declared that its Board of Directors has approved a share buyback program on Monday, July 17th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 10.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Several institutional investors and hedge funds have recently modified their holdings of CE. BlackRock Inc. lifted its stake in shares of Celanese Corporation by 5,604.5% during the first quarter. BlackRock Inc. now owns 7,632,901 shares of the basic materials company’s stock worth $685,818,000 after purchasing an additional 7,499,096 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Celanese Corporation by 33.5% during the second quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock worth $284,749,000 after purchasing an additional 752,057 shares in the last quarter. Boston Partners lifted its stake in shares of Celanese Corporation by 28.0% during the second quarter. Boston Partners now owns 2,850,620 shares of the basic materials company’s stock worth $270,637,000 after purchasing an additional 623,671 shares in the last quarter. FMR LLC lifted its stake in shares of Celanese Corporation by 41.5% during the first quarter. FMR LLC now owns 1,714,126 shares of the basic materials company’s stock worth $154,014,000 after purchasing an additional 502,497 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Celanese Corporation by 33.2% during the second quarter. Victory Capital Management Inc. now owns 2,013,602 shares of the basic materials company’s stock worth $191,171,000 after purchasing an additional 501,469 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

Celanese Corporation Company Profile

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 Corporation (NYSE:CE)

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