Celanese Co. (NYSE:CE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Celanese Co. (NYSE:CE) have earned an average rating of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $102.82.

A number of equities analysts recently issued reports on CE shares. Jefferies Financial Group decreased their target price on Celanese from $102.00 to $82.00 in a report on Thursday, December 5th. Vertical Research cut Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and decreased their target price for the stock from $135.00 to $110.00 in a research report on Wednesday, November 6th. Piper Sandler decreased their target price on Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, KeyCorp cut Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th.

Celanese Stock Down 1.6 %

CE opened at $70.99 on Monday. Celanese has a 12 month low of $64.05 and a 12 month high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. The stock has a market cap of $7.76 billion, a P/E ratio of 7.14, a P/E/G ratio of 1.42 and a beta of 1.18. The stock’s 50 day moving average price is $70.15 and its 200 day moving average price is $104.22.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.41). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business posted $2.50 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, research analysts predict that Celanese will post 8.11 earnings per share for the current year.

Hedge Funds Weigh In On Celanese

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DT Investment Partners LLC boosted its holdings in Celanese by 128.8% during the third 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. UMB Bank n.a. boosted 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 valued at $26,000 after purchasing an additional 194 shares in the last quarter. Mather Group LLC. boosted its holdings in Celanese by 124.0% during the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 222 shares in the last quarter. CKW Financial Group boosted its holdings in Celanese by 52.9% during the fourth 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 in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Celanese by 1,395.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock worth $87,000 after acquiring an additional 600 shares in 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.