Celanese (NYSE:CE) PT Lowered to $148.00

Celanese (NYSE:CE) had its price target cut by equities research analysts at Citigroup from $167.00 to $148.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. Citigroup’s target price would indicate a potential upside of 9.72% from the company’s previous close.

Several other equities analysts have also recently issued reports on CE. Deutsche Bank Aktiengesellschaft dropped their price target on Celanese from $175.00 to $160.00 and set a “hold” rating on the stock in a research report on Monday, June 10th. Bank of America dropped their target price on Celanese from $147.00 to $144.00 and set an “underperform” rating on the stock in a report on Monday, June 10th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $160.00 price target (up from $135.00) on shares of Celanese in a report on Thursday, April 4th. Mizuho lifted their price objective on shares of Celanese from $161.00 to $173.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Wells Fargo & Company cut their price objective on shares of Celanese from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Celanese presently has an average rating of “Hold” and an average target price of $159.41.

Celanese Stock Down 0.8 %

CE stock opened at $134.89 on Thursday. The stock has a market cap of $14.73 billion, a P/E ratio of 7.42, a PEG ratio of 0.55 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. Celanese has a twelve month low of $109.38 and a twelve month high of $172.16. The company’s 50 day moving average is $150.06 and its two-hundred day moving average is $152.60.

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

Institutional Trading of Celanese

A number of hedge funds have recently added to or reduced their stakes in CE. Johnson Financial Group Inc. acquired a new stake in shares of Celanese during the 4th quarter worth $28,000. Desjardins Global Asset Management Inc. increased its stake in Celanese by 142.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 108 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in Celanese by 100.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 94 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Celanese in the 1st quarter valued at about $31,000. Finally, LRI Investments LLC purchased a new stake in shares of Celanese during the 1st quarter worth about $31,000. 98.87% of the stock is owned by institutional investors and hedge funds.

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.