Mizuho Has Lowered Expectations for Celanese (NYSE:CE) Stock Price

Celanese (NYSE:CE) had its price objective dropped by Mizuho from $132.00 to $120.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. Mizuho’s price target would suggest a potential upside of 29.81% from the company’s current price.

Several other equities analysts have also commented on the stock. BMO Capital Markets decreased their target price on shares of Celanese from $142.00 to $138.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada reduced their target price on Celanese from $167.00 to $163.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. KeyCorp cut Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Barclays reduced their price objective on Celanese from $170.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Finally, UBS Group lowered their target price on Celanese from $193.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Celanese presently has an average rating of “Hold” and an average target price of $135.59.

Celanese Stock Up 1.6 %

NYSE CE opened at $92.44 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.74 and a debt-to-equity ratio of 1.45. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 0.72 and a beta of 1.31. The company has a 50 day moving average of $128.06 and a 200-day moving average of $137.49. Celanese has a 1-year low of $90.51 and a 1-year high of $172.16.

Celanese (NYSE:CE) last released its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a net margin of 18.24% and a return on equity of 13.60%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts expect that Celanese will post 10.24 earnings per share for the current fiscal year.

Insider Activity

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $129.51, for a total transaction of $605,459.25. Following the completion of the transaction, the chief operating officer now owns 69,754 shares in the company, valued at approximately $9,033,840.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. DT Investment Partners LLC boosted its position in shares of Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Celanese during the 2nd quarter worth approximately $28,000. LRI Investments LLC acquired a new stake in shares of Celanese during the 1st quarter worth approximately $31,000. Key Financial Inc increased its stake in shares of 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 in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Celanese in the 2nd quarter valued at $40,000. 98.87% of the stock is 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.