Celanese (NYSE:CE) Price Target Cut to $184.00

Celanese (NYSE:CE) had its target price lowered by analysts at UBS Group from $193.00 to $184.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target suggests a potential upside of 36.61% from the company’s current price.

Several other equities research analysts have also recently commented on CE. Bank of America decreased their target price on Celanese from $147.00 to $144.00 and set an “underperform” rating for the company in a research note on Monday, June 10th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $160.00 price target (up from $135.00) on shares of Celanese in a report on Thursday, April 4th. Barclays lowered shares of Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 price objective on the stock. in a report on Thursday, April 4th. Citigroup reduced their target price on Celanese from $167.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $158.00 price target on shares of Celanese in a research note on Tuesday, June 11th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.65.

Celanese Stock Up 2.5 %

Shares of NYSE CE opened at $134.69 on Tuesday. The company’s 50 day moving average price is $146.58 and its 200-day moving average price is $151.66. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. Celanese has a 52-week low of $110.76 and a 52-week high of $172.16. The company has a market capitalization of $14.71 billion, a P/E ratio of 7.41, a price-to-earnings-growth ratio of 0.54 and a beta of 1.30.

Celanese (NYSE:CE) last released its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share (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 business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business earned $2.01 earnings per share. Celanese’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts forecast that Celanese will post 11.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank bought a new stake in shares of Celanese during the 3rd quarter worth $7,879,000. Deutsche Bank AG increased its holdings in Celanese by 1.0% during the third quarter. Deutsche Bank AG now owns 187,134 shares of the basic materials company’s stock worth $23,489,000 after buying an additional 1,897 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Celanese by 51.1% in the third quarter. Raleigh Capital Management Inc. now owns 275 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 93 shares during the period. Vanguard Group Inc. boosted its stake in Celanese by 2.6% in the third quarter. Vanguard Group Inc. now owns 12,722,647 shares of the basic materials company’s stock valued at $1,596,947,000 after acquiring an additional 323,862 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. bought a new position in shares of Celanese during the 4th quarter valued at approximately $218,000. 98.87% of the stock is currently owned by hedge funds and other 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.