Barclays Lowers Celanese (NYSE:CE) Price Target to $75.00

Celanese (NYSE:CE) had its price objective decreased by equities researchers at Barclays from $88.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price target suggests a potential upside of 8.72% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler decreased their price objective on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. UBS Group cut shares of Celanese from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $161.00 to $97.00 in a research report on Monday, November 11th. Mizuho decreased their price objective on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Jefferies Financial Group decreased their price objective on shares of Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Finally, Royal Bank of Canada decreased their price objective on shares of Celanese from $122.00 to $88.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $102.06.

Celanese Price Performance

CE stock opened at $68.98 on Wednesday. The company has a 50 day simple moving average of $69.91 and a 200 day simple moving average of $102.99. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 6.94, a P/E/G ratio of 1.42 and a beta of 1.17. Celanese has a 1 year low of $64.05 and a 1 year 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.

Celanese (NYSE:CE) last announced 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 business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the company posted $2.50 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Celanese will post 8.11 EPS for the current fiscal year.

Institutional Trading of Celanese

Large investors have recently added to or reduced their stakes in the stock. DT Investment Partners LLC increased its stake in shares of Celanese by 128.8% in the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. UMB Bank n.a. increased 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 worth $26,000 after purchasing an additional 194 shares in the last quarter. CKW Financial Group increased its stake 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 worth $37,000 after purchasing an additional 185 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Celanese by 43.2% in the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 202 shares in the last quarter. Finally, Mather Group LLC. increased its stake in shares of Celanese by 124.0% in the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

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.