Tudor Pickering Initiates Coverage on Celanese Corporation (CE)

Research analysts at Tudor Pickering assumed coverage on shares of Celanese Corporation (NYSE:CE) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. UBS AG reaffirmed a “neutral” rating and issued a $100.00 price target (up previously from $95.00) on shares of Celanese Corporation in a research report on Tuesday, July 25th. BidaskClub lowered Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada lifted their price target on Celanese Corporation from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $122.00 price target on shares of Celanese Corporation in a research report on Thursday, October 19th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $106.00 price target on shares of Celanese Corporation in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $107.74.

Shares of Celanese Corporation (NYSE:CE) traded up $0.08 during trading on Tuesday, reaching $105.80. The company’s stock had a trading volume of 431,700 shares, compared to its average volume of 893,851. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.69 and a quick ratio of 1.16. The stock has a market capitalization of $14,339.44, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.59 and a beta of 1.31. Celanese Corporation has a fifty-two week low of $75.79 and a fifty-two week high of $109.11.

Celanese Corporation (NYSE:CE) last posted its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.01. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. Celanese Corporation’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. equities analysts expect that Celanese Corporation will post 7.37 EPS for the current year.

Celanese Corporation announced that its board has initiated a share buyback plan on Monday, July 17th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to repurchase up to 10.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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In related news, CFO Christopher W. Jensen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $104.68, for a total transaction of $104,680.00. Following the completion of the transaction, the chief financial officer now directly owns 60,086 shares in the company, valued at approximately $6,289,802.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total value of $264,700.00. Following the transaction, the director now owns 30,175 shares of the company’s stock, valued at $3,194,929. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its stake in shares of Celanese Corporation by 20.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,014 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 506 shares during the period. First Republic Investment Management Inc. grew its stake in shares of Celanese Corporation by 3.2% during the 3rd quarter. First Republic Investment Management Inc. now owns 106,800 shares of the basic materials company’s stock valued at $11,136,000 after acquiring an additional 3,279 shares during the period. Magnetar Financial LLC bought a new position in shares of Celanese Corporation during the 3rd quarter valued at approximately $2,457,000. AMP Capital Investors Ltd lifted its holdings in Celanese Corporation by 26.8% in the 3rd quarter. AMP Capital Investors Ltd now owns 141,822 shares of the basic materials company’s stock worth $14,787,000 after purchasing an additional 30,008 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Celanese Corporation by 35.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 177,247 shares of the basic materials company’s stock worth $18,481,000 after purchasing an additional 46,166 shares in the last quarter. Institutional investors own 97.90% 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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