Celanese (NYSE:CE) Price Target Lowered to $80.00 at Morgan Stanley

Celanese (NYSE:CE) had its price target reduced by Morgan Stanley from $100.00 to $80.00 in a report released on Monday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

A number of other research firms have also weighed in on CE. Piper Sandler dropped their price target 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. Robert W. Baird cut their price target on Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group lowered their price objective on Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Royal Bank of Canada cut their target price on Celanese from $122.00 to $88.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group cut Celanese from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $161.00 to $97.00 in a report on Monday, November 11th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $106.00.

Celanese Trading Up 0.1 %

Shares of CE stock opened at $71.07 on Monday. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 0.72 and a beta of 1.18. 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 firm has a fifty day moving average price of $71.06 and a 200-day moving average price of $109.87. Celanese has a 1 year low of $64.05 and a 1 year high of $172.16.

Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.41). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $2.50 EPS. As a group, equities analysts predict that Celanese will post 8.38 earnings per share for the current year.

Hedge Funds Weigh In On Celanese

Large investors have recently made changes to their positions in the company. State Street Corp lifted its stake in Celanese by 3.1% in the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after purchasing an additional 136,994 shares during the last quarter. KBC Group NV boosted its holdings in Celanese by 155.5% during the 3rd quarter. KBC Group NV now owns 213,657 shares of the basic materials company’s stock valued at $29,049,000 after acquiring an additional 130,037 shares during the period. Zacks Investment Management grew its position in Celanese by 6.5% in the 3rd quarter. Zacks Investment Management now owns 160,443 shares of the basic materials company’s stock valued at $21,814,000 after acquiring an additional 9,782 shares during the last quarter. National Pension Service increased its stake in Celanese by 21.7% in the third quarter. National Pension Service now owns 233,480 shares of the basic materials company’s stock worth $31,744,000 after purchasing an additional 41,598 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Celanese by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock worth $134,723,000 after purchasing an additional 69,606 shares during the last quarter. 98.87% of the stock is owned by hedge funds and other 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.