Celanese Corporation (NYSE:CE) saw a downside of -1.41% to $122.97 after subtracting -$1.76 on Tuesday. The 5-day average trading volume is 1,197,018 shares of the company’s common stock. It has gained $126.46 in the past week and touched a new high 3 times within the past 5 days. An average of 1,106,780 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,377,914.
CE’s 1-month performance is 5.20% or $5.87 on its low of $115.99 reached on 07/10/23. The company’s shares have touched a 52-week low of $86.71 and high of $128.50, with the stock’s rally to the 52-week high happening on 07/27/23. YTD, CE has achieved 20.28% or $20.57 and has reached a new high 13 times. However, the current price is down -4.30% from the 52-week high price.
Valuation Metrics
CE stock has a beta of 1.31. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.34 while the price-to-book (PB) in the most recent quarter is 2.36, with the price to cash flow ratio at 25.00.
Celanese Corporation’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 2.37, while the total debt to equity was 2.61. In terms of profitability, the gross margin trailing 12 months is 22.70%. The trailing 12-month EBITDA margin is 18.63% while for the period ending June 29, Celanese Corporation’s operating margin was 11.00%. The firm’s gross profit as reported stood at $2.38 billion against revenue of $9.67 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -451.65% to $91.0 million, while revenue of $767.0 million was -742.86% off the previous quarter. Analysts expected CE to announce $2.48 per share in earnings in its latest quarter, but it posted $2.17, representing a -12.50% surprise. EBITDA for the quarter stood at more than $429.0 million. Shareholders hold equity totaling $108.79 million.
Let’s look briefly at Celanese Corporation (CE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 48.84% to suggest the stock is trending Neutral, with historical volatility in this time period at 12.77%.
The stock’s 5-day moving average is $123.88, reflecting a -2.04% or -$2.56 change from its current price. CE is currently trading +3.46% above its 20-day SMA, +20.04% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +15.57% and SMA200 by+32.64%.
Stochastic %K and %D was 50.84% and 52.60% and the average true range (ATR) pointed at 3.20. The RSI (14) points at 54.34%, while the 14-day stochastic is at 48.60% with the period’s ATR at 3.16. The stock’s 9-day MACD Oscillator is pointing at -0.84 and -0.19 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Celanese Corporation (NYSE: CE), Deutsche Bank downgraded it to a Hold rating. They previously had a Buy rating on the stock. Analysts offering their rating for CE stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate CE as a “sell,”, while 15 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 6 have offered a “buy” rating.
What is CE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $109.00 and a high of $150.00, with their median price target at $124.00. Looking at these predictions, the average price target given by analysts is for Celanese Corporation (CE) stock is $125.64.
