Celanese (NYSE:CE) Price Target Raised to $76.00

by · The Cerbat Gem

Celanese (NYSE:CE – Get Free Report) had its price target increased by equities researchers at KeyCorp from $71.00 to $76.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price suggests a potential upside of 46.77% from the company’s previous close.

A number of other research analysts have also recently weighed in on CE. JPMorgan Chase & Co. lowered their target price on shares of Celanese from $92.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on Celanese from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Mizuho set a $45.00 target price on Celanese in a research report on Tuesday, April 15th. UBS Group lowered their price target on Celanese from $60.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, Barclays cut their price objective on shares of Celanese from $75.00 to $59.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.89.

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Celanese Trading Up 6.9 %

NYSE:CE opened at $51.78 on Wednesday. Celanese has a one year low of $36.29 and a one year high of $169.50. The business has a fifty day moving average price of $48.50 and a 200-day moving average price of $66.20. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of -3.72, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76.

Celanese (NYSE:CE – Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.37 by $0.20. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. Sell-side analysts forecast that Celanese will post 8.79 EPS for the current year.

Institutional Investors Weigh In On Celanese

Institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new stake in Celanese during the 4th quarter valued at $25,000. UMB Bank n.a. raised its stake in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 194 shares during the period. State of Wyoming lifted its holdings in shares of Celanese by 122.5% in the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 267 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Celanese by 127.0% during the 1st quarter. Mather Group LLC. now owns 622 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 348 shares during the period. Finally, CKW Financial Group grew its holdings in Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 185 shares during the last quarter. 98.87% of the stock is owned by institutional investors.

Celanese Company Profile

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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.

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