Celanese (NYSE:CE – Get Free Report) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
A number of other analysts also recently weighed in on CE. UBS Group raised their price target on shares of Celanese from $144.00 to $169.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Piper Sandler raised shares of Celanese from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $112.00 to $135.00 in a research report on Tuesday, November 21st. Citigroup raised their price target on shares of Celanese from $130.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 13th. Royal Bank of Canada decreased their price target on shares of Celanese from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, November 8th. Finally, KeyCorp raised their price target on shares of Celanese from $150.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $133.56.
Celanese Stock Up 0.9 %
NYSE:CE traded up $1.39 during trading hours on Wednesday, hitting $148.99. The stock had a trading volume of 674,616 shares, compared to its average volume of 753,313. The company has a current ratio of 1.63, a quick ratio of 0.98 and a debt-to-equity ratio of 1.77. Celanese has a 1-year low of $97.12 and a 1-year high of $159.06. The business has a 50 day simple moving average of $139.79 and a two-hundred day simple moving average of $127.76. The company has a market cap of $16.22 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 4.07 and a beta of 1.35.
Celanese (NYSE:CE – Get Free Report) last issued its quarterly earnings data on Monday, November 6th. The basic materials company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.30. Celanese had a net margin of 18.93% and a return on equity of 14.06%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the company earned $3.94 earnings per share. Celanese’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts predict that Celanese will post 9.02 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of CE. V Square Quantitative Management LLC acquired a new position in shares of Celanese during the second quarter valued at $25,000. Parkside Financial Bank & Trust grew its holdings in Celanese by 92.6% during the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 87 shares during the period. Certified Advisory Corp acquired a new position in Celanese during the first quarter worth about $27,000. EverSource Wealth Advisors LLC grew its holdings in Celanese by 83.7% during the third quarter. EverSource Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 103 shares during the period. Finally, Asset Dedication LLC grew its holdings in Celanese by 180.0% during the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 144 shares during the period. 98.87% of the stock is owned by institutional investors and hedge funds.
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.