Celanese (NYSE:CE) Price Target Raised to $75.00

Celanese (NYSE:CE) had its price target lifted by Deutsche Bank Aktiengesellschaft from $70.00 to $75.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Other equities analysts have also issued reports about the company. Evercore ISI decreased their target price on Celanese from $85.00 to $75.00 and set an “in-line” rating on the stock in a research note on Monday, March 24th. Vertical Research raised shares of Celanese from a “sell” rating to a “hold” rating and set a $66.00 target price on the stock in a research note on Thursday, March 6th. Piper Sandler dropped their target price on shares of Celanese from $77.00 to $50.00 and set an “underweight” rating for the company in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their price target on shares of Celanese from $75.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, February 20th. Finally, UBS Group dropped their price objective on shares of Celanese from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $66.94.

Celanese Stock Down 1.9 %

CE stock opened at $57.14 on Thursday. The stock has a 50-day simple moving average of $61.62 and a two-hundred day simple moving average of $84.34. Celanese has a twelve month low of $45.94 and a twelve month high of $172.10. The firm has a market capitalization of $6.25 billion, a PE ratio of -4.10, a PEG ratio of 1.05 and a beta of 1.23. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98.

Celanese (NYSE:CE) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. On average, equities analysts predict that Celanese will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. Celanese’s dividend payout ratio is currently -0.86%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox raised its stake in Celanese by 100.3% in the fourth quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company’s stock worth $942,506,000 after buying an additional 6,818,993 shares in the last quarter. Norges Bank bought a new position in shares of Celanese in the 4th quarter worth approximately $222,815,000. Turtle Creek Asset Management Inc. raised its position in shares of Celanese by 266.7% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company’s stock worth $242,681,000 after acquiring an additional 2,550,334 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Celanese by 4,506.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,344,661 shares of the basic materials company’s stock valued at $162,274,000 after purchasing an additional 2,293,764 shares during the period. Finally, Wellington Management Group LLP grew its stake in Celanese by 27.4% in the third quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after purchasing an additional 2,036,362 shares during the period. 98.87% of the stock is currently owned by institutional investors.

Celanese Company Profile

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.