Celanese (NYSE:CE) PT Lowered to $180.00

Celanese (NYSE:CE) had its price objective reduced by analysts at KeyCorp from $190.00 to $180.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price would suggest a potential upside of 29.32% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Piper Sandler upped their price objective on shares of Celanese from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Bank of America decreased their price objective on shares of Celanese from $147.00 to $144.00 and set an “underperform” rating for the company in a research report on Monday, June 10th. BMO Capital Markets reiterated a “market perform” rating and issued a $158.00 price objective on shares of Celanese in a research report on Tuesday, June 11th. Citigroup decreased their price objective on shares of Celanese from $167.00 to $148.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Celanese from $175.00 to $160.00 and set a “hold” rating for the company in a research report on Monday, June 10th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $159.65.

Celanese Price Performance

NYSE:CE opened at $139.19 on Wednesday. Celanese has a one year low of $110.76 and a one year high of $172.16. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. The firm has a market cap of $15.20 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.54 and a beta of 1.30. The firm’s fifty day moving average is $146.23 and its two-hundred day moving average is $151.58.

Celanese (NYSE:CE) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.91 by $0.17. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the company earned $2.01 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. Research analysts expect that Celanese will post 11.41 EPS for the current year.

Institutional Trading of Celanese

A number of hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV raised its holdings in Celanese by 25.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 327 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 67 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Celanese by 7.6% in the 4th quarter. Benjamin Edwards Inc. now owns 979 shares of the basic materials company’s stock valued at $152,000 after buying an additional 69 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of Celanese by 28.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 353 shares of the basic materials company’s stock valued at $55,000 after buying an additional 78 shares during the period. Wright Investors Service Inc. grew its stake in shares of Celanese by 0.6% in the 1st quarter. Wright Investors Service Inc. now owns 13,733 shares of the basic materials company’s stock valued at $2,360,000 after buying an additional 78 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in shares of Celanese by 2.8% in the 1st quarter. Bleakley Financial Group LLC now owns 2,866 shares of the basic materials company’s stock valued at $492,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.

About Celanese

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.