KeyCorp Trims Celanese (NYSE:CE) Target Price to $124.00
Celanese (NYSE:CE) had its price objective decreased by KeyCorp from $125.00 to $124.00 in a report released on Tuesday, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the basic materials company’s stock. KeyCorp also issued estimates for Celanese’s Q2 2019 earnings at $2.35 EPS, FY2019 earnings at $10.20 EPS and FY2020 earnings at $11.40 EPS.
A number of other research analysts also recently weighed in on CE. Nomura raised their target price on shares of Twitter from $31.00 to $33.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. BMO Capital Markets reaffirmed a market perform rating and issued a C$17.00 target price on shares of Wajax in a research report on Thursday, June 20th. Zacks Investment Research raised shares of Green Brick Partners from a sell rating to a hold rating in a research report on Thursday, April 25th. Alembic Global Advisors raised shares of Celanese from an underweight rating to a neutral rating and raised their target price for the company from $95.00 to $115.00 in a research report on Monday, April 29th. Finally, Barclays decreased their target price on shares of Waters from $218.00 to $210.00 and set an equal weight rating for the company in a research report on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Celanese currently has a consensus rating of Hold and an average target price of $117.75.
Shares of NYSE:CE opened at $105.33 on Tuesday. Celanese has a 12 month low of $82.91 and a 12 month high of $119.29. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.85. The stock’s fifty day moving average is $103.09. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.02 and a beta of 1.42.
In other news, Director John K. Wulff sold 9,175 shares of Celanese stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $108.32, for a total value of $993,836.00. Following the completion of the transaction, the director now owns 19,872 shares of the company’s stock, valued at approximately $2,152,535.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Celanese during the 4th quarter worth about $88,985,000. Geode Capital Management LLC boosted its holdings in shares of Celanese by 61.5% during the 4th quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock worth $163,756,000 after buying an additional 694,491 shares during the period. Northern Trust Corp boosted its holdings in shares of Celanese by 74.0% during the 4th quarter. Northern Trust Corp now owns 1,337,518 shares of the basic materials company’s stock worth $120,336,000 after buying an additional 568,909 shares during the period. Hexavest Inc. bought a new stake in shares of Celanese during the 1st quarter worth about $32,435,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Celanese by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,892,634 shares of the basic materials company’s stock worth $186,634,000 after buying an additional 323,714 shares during the period. 97.19% of the stock is owned by institutional investors.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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