Celanese (NYSE:CE) Price Target Cut to $88.00 by Analysts at Barclays

Celanese (NYSE:CE) had its price target cut by Barclays from $101.00 to $88.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Other equities research analysts have also issued reports about the stock. Piper Sandler lowered shares of Celanese from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $150.00 to $98.00 in a report on Friday, November 8th. JPMorgan Chase & Co. upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $156.00 to $130.00 in a research report on Monday, August 5th. UBS Group downgraded shares of Celanese from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $161.00 to $97.00 in a report on Monday, November 11th. Robert W. Baird decreased their price target on Celanese from $150.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $135.00 to $110.00 in a research note on Wednesday, November 6th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $120.59.

Celanese Stock Down 0.4 %

CE opened at $74.69 on Tuesday. Celanese has a 1-year low of $71.38 and a 1-year high of $172.16. The firm’s 50 day simple moving average is $117.69 and its two-hundred day simple moving average is $131.60. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $8.16 billion, a PE ratio of 7.51, a PEG ratio of 0.74 and a beta of 1.31.

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 the consensus estimate of $2.85 by ($0.41). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. Celanese’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 earnings per share. As a group, equities analysts forecast that Celanese will post 8.67 EPS for the current year.

Celanese Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.70 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 annualized dividend and a yield of 3.75%. Celanese’s dividend payout ratio is currently 28.17%.

Institutional Investors Weigh In On Celanese

Several institutional investors have recently modified their holdings of CE. Covestor Ltd increased its position in shares of Celanese by 45.1% during the 1st quarter. Covestor Ltd now owns 689 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 214 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Celanese by 13.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,608 shares of the basic materials company’s stock valued at $2,511,000 after acquiring an additional 1,731 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Celanese by 464.6% in the first quarter. UniSuper Management Pty Ltd now owns 7,170 shares of the basic materials company’s stock valued at $1,232,000 after acquiring an additional 5,900 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Celanese by 264.2% in the 1st quarter. Bessemer Group Inc. now owns 19,441 shares of the basic materials company’s stock worth $3,342,000 after acquiring an additional 14,103 shares during the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Celanese during the 1st quarter worth about $380,000. 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.