RBC Capital Keeps Their Hold Rating on Celanese (CE)
In a report released on December 15, Arun Viswanathan from RBC Capital maintained a Hold rating on Celanese, with a price target of $43.00. The company’s shares closed yesterday at $42.49.
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Viswanathan covers the Basic Materials sector, focusing on stocks such as Celanese, Eastman Chemical, and Olin. According to TipRanks, Viswanathan has an average return of -2.0% and a 45.42% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celanese with a $55.00 average price target, a 29.44% upside from current levels. In a report released on December 9, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $41.00 price target.
Based on Celanese’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.42 billion and a GAAP net loss of $1.36 billion. In comparison, last year the company earned a revenue of $2.65 billion and had a net profit of $116 million
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CE in relation to earlier this year. Earlier this month, Scott A Richardson, the CEO & President of CE bought 3,800.00 shares for a total of $158,004.00.
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