Citigroup Upgrades Celanese Corporation to Buy

Brokerage firm Citigroup Upgrades its rating on Celanese Corporation(CE). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Citigroup was issued on Feb 3, 2017.

In a different note, On Feb 2, 2017, Citigroup said it Upgrades its rating on Celanese Corporation. The shares have been rated ‘Buy’ by the firm. On Dec 13, 2016, RBC Capital said it Upgrades its rating on Celanese Corporation. According to the research note, RBC Capital Raises the price target to $100 per share from a prior target of $76. The shares have been rated ‘Outperform’ by the firm.

Celanese Corporation (CE) shares turned negative on Tuesdays trading session with the shares closing down -0.24 points or -0.27% at a volume of 16,17,588. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $88.205. The peak price level was also seen at $88.205 while the days lowest was $87.25. Finally the shares closed at $87.81. The 52-week high of the shares is $88.915 while the 52-week low is $55.07. According to the latest information available, the market cap of the company is $12,574 M.

Celanese Corporation(CE) last announced its earnings results on Feb 1, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $1.311B. Analysts had an estimated revenue of $1.290B. Earnings per share were $1.52. Analysts had estimated an EPS of $1.51.

Several Insider Transactions has been reported to the SEC. On Nov 9, 2016, Lori A Johnston (EVP & CAO) sold 83,829 shares at $72.30 per share price.Also, On Oct 26, 2016, Gjon N Jr Nivica (SVP and General Counsel) sold 25,000 shares at $71.36 per share price.On Mar 17, 2016, David F Hoffmeister (director) sold 8,300 shares at $64.05 per share price, according to the Form-4 filing with the securities and exchange commission.

Celanese Corporation is a technology and specialty materials company. The Company’s business involves processing chemical raw materials such as methanol carbon monoxide and ethylene and natural products including wood pulp into chemicals thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials Consumer Specialties Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene ultra-high molecular weight polyethylene polybutylene terephthalate and liquid crystal polymers among others. Consumer Specialties’ products include acetate tow acetate flakes acetate film and high intensity sweeteners among others. Industrial Specialties’ products include conventional emulsions vinyl acetate ethylene emulsions and ethylene vinyl acetate among others. Acetyl Intermediates include acetic acid vinyl acetate monomer acetic anhydride and acetaldehyde among others.

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