Celanese (NYSE:CE) Price Target Cut to $86.00 by Analysts at Mizuho

Celanese (NYSE:CE) had its target price cut by research analysts at Mizuho from $120.00 to $86.00 in a report released on Thursday. The firm presently has a “neutral” rating on the basic materials company’s stock. Mizuho’s target price would suggest a potential upside of 21.92% from the company’s current price.

CE has been the topic of a number of other reports. Jefferies Financial Group cut their target price on shares of Celanese from $102.00 to $82.00 in a research note on Thursday. Royal Bank of Canada lowered their target price on shares of Celanese from $163.00 to $122.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. UBS Group downgraded Celanese from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $161.00 to $97.00 in a report on Monday, November 11th. Morgan Stanley cut their target price on Celanese from $140.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Finally, Piper Sandler lowered shares of Celanese from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $150.00 to $98.00 in a research note on Friday, November 8th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $116.56.

Celanese Stock Up 1.6 %

Shares of NYSE CE opened at $70.54 on Thursday. Celanese has a 52-week low of $68.88 and a 52-week high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The business’s 50 day moving average is $105.19 and its two-hundred day moving average is $125.00. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 0.77 and a beta of 1.17.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $2.50 earnings per share. Research analysts predict that Celanese will post 8.38 EPS for the current year.

Institutional Trading of Celanese

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DT Investment Partners LLC grew its holdings in shares of Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. Fairscale Capital LLC acquired a new position in Celanese in the 2nd quarter valued at $28,000. Key Financial Inc raised its holdings in Celanese by 3,933.3% in the 2nd quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 236 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Celanese during the 2nd quarter worth $40,000. Finally, ORG Partners LLC purchased a new stake in shares of Celanese in the second quarter valued at $40,000. Hedge funds and other institutional investors 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.