The stock of Celanese Corporation (NYSE:CE) is a huge mover today! About 901,643 shares traded hands. Celanese Corporation (NYSE:CE) has risen 6.91% since March 1, 2016 and is uptrending. It has underperformed by 2.33% the S&P500.
The move comes after 8 months positive chart setup for the $9.35B company. It was reported on Oct, 4 by Barchart.com. We have $91.76 PT which if reached, will make NYSE:CE worth $3.74 billion more.
Analysts await Celanese Corporation (NYSE:CE) to report earnings on October, 17. They expect $1.66 earnings per share, up 10.67% or $0.16 from last year’s $1.5 per share. CE’s profit will be $236.82 million for 9.87 P/E if the $1.66 EPS becomes a reality. After $1.59 actual earnings per share reported by Celanese Corporation for the previous quarter, Wall Street now forecasts 4.40% EPS growth.
Celanese Corporation (NYSE:CE) Ratings Coverage
Out of 9 analysts covering Celanese (NYSE:CE), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. Celanese has been the topic of 23 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The stock of Celanese Corporation (NYSE:CE) earned “Market Perform” rating by Cowen & Co on Monday, October 26. As per Monday, April 18, the company rating was maintained by Citigroup. The stock has “Outperform” rating given by Cowen & Co on Friday, April 29. Goldman Sachs downgraded Celanese Corporation (NYSE:CE) rating on Monday, October 12. Goldman Sachs has “Neutral” rating and $71 price target. The firm has “Neutral” rating by UBS given on Monday, November 16. RBC Capital Markets initiated the stock with “Sector Perform” rating in Wednesday, October 14 report. The firm has “Sector Perform” rating given on Monday, November 16 by RBC Capital Markets. The firm has “Buy” rating by Deutsche Bank given on Wednesday, November 18. Citigroup upgraded the stock to “Buy” rating in Tuesday, January 5 report. The stock of Celanese Corporation (NYSE:CE) has “Buy” rating given on Monday, January 11 by SunTrust.
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.”
Insitutional Activity: The institutional sentiment increased to 1.39 in Q2 2016. Its up 0.23, from 1.16 in 2016Q1. The ratio increased, 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.
Principal Gp accumulated 0% or 30,114 shares. Twin Capital Mngmt Inc accumulated 0.04% or 7,650 shares. Ajo L P has invested 0.09% of its portfolio in Celanese Corporation (NYSE:CE). Baldwin Invest Mngmt, a Pennsylvania-based fund reported 16,475 shares. Castleark Management Llc has invested 0.07% of its portfolio in Celanese Corporation (NYSE:CE). Clark Management Grp owns 94,286 shares or 0.4% of their US portfolio. Moreover, Dai Ichi Life Communications Ltd has 0.06% invested in Celanese Corporation (NYSE:CE) for 32,930 shares. Gmt last reported 7.89% of its portfolio in the stock. Geode Mngmt Lc has 0.03% invested in the company for 934,645 shares. Franklin Res Incorporated holds 1.31 million shares or 0.05% of its portfolio. Apg Asset Management Nv owns 323,960 shares or 0.04% of their US portfolio. Parametrica Mgmt Ltd has invested 0.32% of its portfolio in Celanese Corporation (NYSE:CE). Bessemer Group Inc last reported 0% of its portfolio in the stock. Smith Graham And Inv Advsrs L P accumulated 69,870 shares or 0.63% of the stock. Stevens Capital Lp reported 94,567 shares or 0.25% of all its holdings.
More news for Celanese Corporation (NYSE:CE) were recently published by: Twst.com, which released: “Celanese Corporation: Celanese to Hold Third Quarter Earnings Conference Call …” on October 04, 2016. Finance.Yahoo.com‘s article titled: “Celanese Corporation Announces Pricing of Senior Notes Offering” and published on September 19, 2016 is yet another important article.
CE Company Profile
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.
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