Celanese (NYSE:CE) Price Target Cut to $75.00 by Analysts at Evercore ISI

Celanese (NYSE:CE) had its price target reduced by Evercore ISI from $85.00 to $75.00 in a research report sent to investors on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the basic materials company’s stock.

Several other research firms also recently commented on CE. Jefferies Financial Group decreased their target price on shares of Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Piper Sandler decreased their price objective on shares of Celanese from $77.00 to $50.00 and set an “underweight” rating for the company in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Celanese from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barclays reduced their price target on Celanese from $75.00 to $59.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Finally, UBS Group lowered their price objective on Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $66.67.

Celanese Trading Up 0.0 %

NYSE CE opened at $59.17 on Monday. The company has a market capitalization of $6.47 billion, a PE ratio of -4.25, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23. Celanese has a 1-year low of $45.94 and a 1-year high of $172.16. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The firm’s fifty day simple moving average is $62.45 and its 200-day simple moving average is $85.39.

Celanese (NYSE:CE) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Celanese will post 8.79 earnings per share for the current fiscal year.

Celanese Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.03 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 annualized dividend and a yield of 0.20%. Celanese’s dividend payout ratio is -0.86%.

Hedge Funds Weigh In On Celanese

Several institutional investors and hedge funds have recently added to or reduced their stakes in CE. Mutual of America Capital Management LLC increased its position in shares of Celanese by 6.2% during the third quarter. Mutual of America Capital Management LLC now owns 13,436 shares of the basic materials company’s stock valued at $1,827,000 after purchasing an additional 780 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Celanese in the 3rd quarter valued at $397,000. Advisors Asset Management Inc. boosted its position in shares of Celanese by 10.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 9,654 shares of the basic materials company’s stock valued at $1,313,000 after acquiring an additional 927 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Celanese by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock valued at $134,723,000 after acquiring an additional 69,606 shares during the period. Finally, Raymond James Trust N.A. increased its stake in Celanese by 3.4% in the third quarter. Raymond James Trust N.A. now owns 7,204 shares of the basic materials company’s stock valued at $979,000 after acquiring an additional 239 shares during the period. 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.