Evercore ISI Issues Pessimistic Forecast for Celanese (NYSE:CE) Stock Price

Celanese (NYSE:CE) had its price objective decreased by Evercore ISI from $85.00 to $75.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “in-line” rating on the basic materials company’s stock. Evercore ISI’s target price suggests a potential upside of 26.82% from the stock’s current price.

Other analysts have also issued reports about the stock. Alembic Global Advisors upgraded shares of Celanese from a “neutral” rating to an “overweight” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Citigroup upgraded Celanese to a “neutral” rating and upped their price objective for the company from $73.00 to $76.00 in a research note on Thursday, January 23rd. Mizuho cut their target price on Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Barclays lowered their price target on Celanese from $75.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Finally, Piper Sandler cut their price objective on Celanese from $77.00 to $50.00 and set an “underweight” rating for the company in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.67.

Celanese Trading Down 0.5 %

Shares of CE opened at $59.14 on Monday. The stock’s 50-day moving average price is $62.68 and its 200 day moving average price is $85.82. 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 firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of -4.25, a P/E/G ratio of 1.05 and a beta of 1.23. Celanese has a 12-month low of $45.94 and a 12-month high of $172.16.

Celanese (NYSE:CE) last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. As a group, research analysts predict that Celanese will post 8.79 earnings per share for the current year.

Institutional Trading of Celanese

Institutional investors have recently bought and sold shares of the business. Dodge & Cox boosted its position in shares of Celanese by 100.3% in the 4th quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company’s stock worth $942,506,000 after purchasing an additional 6,818,993 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Celanese by 27.4% during the third quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after buying an additional 2,036,362 shares during the last quarter. State Street Corp grew its position in shares of Celanese by 3.1% during the 3rd quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after buying an additional 136,994 shares during the period. Invesco Ltd. increased its stake in shares of Celanese by 105.0% in the 4th quarter. Invesco Ltd. now owns 3,969,284 shares of the basic materials company’s stock valued at $274,714,000 after acquiring an additional 2,033,025 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. raised its position in shares of Celanese by 266.7% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company’s stock valued at $242,681,000 after acquiring an additional 2,550,334 shares during the period. Institutional investors and hedge funds 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.