Celanese Corp [CE] stock is trading at $153.46, up 0.98%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The CE shares have gain 2.73% over the last week, with a monthly amount glided 4.90%, and seem to be holding up well over a long-time horizon.
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On 29, February 2024, Celanese Announces Commercial Launch of Glaukos’ iDose® TR (Travoprost Intracameral Implant) Using Celanese’s VitalDose® Ethylene Vinyl Acetate (EVA). In a post published today on Yahoo Finance, Celanese Corporation (NYSE: CE), a global specialty materials and chemical company, announced the launch of iDose® TR by Glaukos Corporation using Celanese’s VitalDose® EVA to provide sustained drug release for the treatment of glaucoma.
From an analyst’s perspective:
Celanese Corp [NYSE: CE] stock has seen the most recent analyst activity on February 26, 2024, when Piper Sandler upgraded its rating to a Overweight and also boosted its price target to $170 from $135. Previously, Tudor Pickering Holt & Co. downgraded its rating to Sell on February 22, 2024, and kept the price target unchanged to $140. On January 22, 2024, downgrade downgraded it’s rating to Neutral but maintained its price target of $160 on the stock. BofA Securities downgraded its rating to a Underperform and increased its price target to $135 on January 16, 2024. Piper Sandler upgraded its rating to a Neutral and raised its price target to $135 on November 21, 2023. KeyBanc Capital Markets upgraded its rating to Overweight for this stock on September 06, 2023, but kept the price target unchanged to $149. In a note dated August 29, 2023, Piper Sandler downgraded an Underweight rating on this stock and revised its target price from $120 to $112.
Celanese Corp [CE] stock has fluctuated between $97.12 and $159.06 over the past year. Currently, Wall Street analysts expect the stock to reach $154.86 within the next 12 months. Celanese Corp [NYSE: CE] shares were valued at $153.46 at the most recent close of the market. An investor can expect a potential return of 0.91% based on the average CE price forecast.
Analyzing the CE fundamentals
Celanese Corp [NYSE:CE] reported sales of 10.94B for the trailing twelve months, which represents a growth of 9.41%. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at 0.15%, Pretax Profit Margin comes in at 0.11%, and Net Profit Margin reading is 0.18%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.32 and Total Capital is 0.07. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.98.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 151.98 points at the first support level, and at 150.50 for the second support level. However, for the 1st resistance point, the stock is sitting at 154.24, and for the 2nd resistance point, it is at 155.03.
Celanese Corp [CE] reported earnings per share of $2.24 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.31/share, meaning a difference of -$0.07 and a surprise factor of -3.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $2.5 per share as compared to estimates of $2.32 per share, a difference of $0.18 representing a surprise of 7.80%.
Ratios To Look Out For
For context, Celanese Corp’s Current Ratio is 1.53. As well, the Quick Ratio is 0.95, while the Cash Ratio is 0.44. Considering the valuation of this stock, the price to sales ratio is 1.53, the price to book ratio is 2.36 and price to earnings (TTM) ratio is 8.57.
Transactions by insiders
Recent insider trading involved Kelly Thomas Francis, SVP, EM, that happened on May 19 when 2000.0 shares were purchased. SVP – Acetyls, Murray Mark Christopher completed a deal on May 12 to buy 1008.0 shares.
