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Ganesh Moorthy, a director at Celanese Corp (NYSE:CE), recently acquired 1,000 shares of the company’s common stock, amounting to a total purchase value of $54,670. The shares were bought at a price of $54.67 each, according to a recent SEC filing. The purchase comes as the stock has declined over 63% in the past year, though it has shown recent strength with a 17% gain in the past week. This transaction increases Moorthy’s indirect ownership of Celanese shares, held through the Ganesh and Hema Moorthy Revocable Living Trust, to 2,000 shares. The purchase reflects Moorthy’s continued investment in the company, which is known for its production of plastic materials and synthetic resins. According to InvestingPro analysis, Celanese appears slightly undervalued at current levels, with analysts projecting a return to profitability this year. For deeper insights into CE’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Celanese Corporation has announced the issuance of senior notes totaling $1.8 billion. The offering includes $700 million in 6.500% Senior Notes due 2030 and $1.1 billion in 6.750% Senior Notes due 2033, alongside €750 million in 5.000% Senior Notes due 2031. This strategic move aims to bolster Celanese’s financial position and support its business operations. Meanwhile, Piper Sandler has adjusted its outlook on Celanese, setting a new price target at $50, down from $77, while maintaining an Underweight rating. The firm has significantly reduced its EBITDA estimates for 2025 and 2026, citing challenges the company may face in financial recovery.
BofA Securities also revised its price target for Celanese, lowering it from $88 to $72 but maintaining a Buy rating. The analysts anticipate an improvement in EBITDA beyond the initial quarters of 2025, despite recent underwhelming earnings reports. UBS has decreased its price target for Celanese to $60 from $72, maintaining a Neutral rating. The firm noted that the company is facing additional one-time items affecting earnings, with EPS estimates for 2025 and 2026 significantly reduced.
RBC Capital Markets has downgraded Celanese’s stock rating from Outperform to Sector Perform, reducing the price target to $56 from $84. The downgrade was influenced by concerns over Celanese’s exposure to the automotive market, particularly in Europe. These developments are being closely monitored by investors as they evaluate Celanese’s financial performance and market position.
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