Stifel Nicolaus analyst Vincent Anderson maintained a Hold rating on Celanese (CE – Research Report) on November 10 and set a price target of $129.00. The company’s shares closed yesterday at $110.56.
According to TipRanks, Anderson is a 5-star analyst with an average return of 21.9% and a 65.85% success rate. Anderson covers the Basic Materials sector, focusing on stocks such as Huntsman, Olin, and Avient.
In addition to Stifel Nicolaus, Celanese also received a Hold from RBC Capital’s Arun Viswanathan in a report issued on November 8. However, on November 10, Deutsche Bank maintained a Buy rating on Celanese (NYSE: CE).
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Based on Celanese’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.3 billion and a net profit of $191 million. In comparison, last year the company earned a revenue of $2.27 billion and had a net profit of $506 million
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Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities .The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates. The Acetate Tow segment serves consumer-driven applications and is a global producer and supplier of acetate tow and acetate flake, primarily used in filter products applications. The Acetyl Chain segment includes the integrated chain of intermediate chemistry, emulsion polymers and ethylene vinyl acetate (EVA) polymers businesses, based on similar products, production processes, classes of customers and selling and distribution practices as well as economic similarities over a normal business cycle and The Other Activities segment primarily consists of corporate center costs, including administrative activities such as finance, information technology and human resource functions, interest income and expense associated with financing activities. The company was founded by Camille Dreyfus and Henri Dreyfus in 1956 and is headquartered in Irving, TX.
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