Celanese (NYSE:CE) Price Target Cut to $75.00 by Analysts at Evercore ISI

Celanese (NYSE:CE) had its target price dropped by equities researchers at Evercore ISI from $85.00 to $75.00 in a report released on Monday,Benzinga reports. The firm presently has an “in-line” rating on the basic materials company’s stock. Evercore ISI’s target price would suggest a potential upside of 26.85% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Celanese from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. StockNews.com lowered shares of Celanese from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Morgan Stanley decreased their price target on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Piper Sandler reduced their price objective on Celanese from $77.00 to $50.00 and set an “underweight” rating on the stock in a report on Tuesday, February 25th. Finally, Royal Bank of Canada cut Celanese from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $84.00 to $56.00 in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Celanese has a consensus rating of “Hold” and a consensus target price of $66.67.

Celanese Price Performance

Celanese stock traded up $2.03 during mid-day trading on Monday, hitting $59.13. 294,587 shares of the company were exchanged, compared to its average volume of 1,702,008. Celanese has a 1-year low of $45.94 and a 1-year high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The business has a fifty day moving average of $62.84 and a 200 day moving average of $86.25. The company has a market capitalization of $6.46 billion, a PE ratio of -4.23, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.20. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. As a group, sell-side analysts expect that Celanese will post 8.79 earnings per share for the current year.

Institutional Trading of Celanese

A number of institutional investors have recently modified their holdings of CE. Altshuler Shaham Ltd acquired a new stake in Celanese in the fourth quarter valued at $25,000. UMB Bank n.a. grew its holdings in Celanese by 103.7% during the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 194 shares during the period. State of Wyoming raised its stake in Celanese by 122.5% in the fourth quarter. State of Wyoming now owns 485 shares of the basic materials company’s stock valued at $34,000 after buying an additional 267 shares during the period. CKW Financial Group lifted its position in shares of Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after buying an additional 185 shares during the last quarter. Finally, LRI Investments LLC lifted its position in shares of Celanese by 739.1% in the fourth quarter. LRI Investments LLC now owns 537 shares of the basic materials company’s stock valued at $37,000 after buying an additional 473 shares during the last quarter. 98.87% of the stock is currently owned by 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.