Celanese (NYSE:CE) Price Target Cut to $46.00 by Analysts at BMO Capital Markets

Celanese (NYSE:CE) had its price target decreased by equities researchers at BMO Capital Markets from $73.00 to $46.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 12.49% from the company’s current price.

CE has been the topic of a number of other research reports. Royal Bank of Canada downgraded shares of Celanese from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $84.00 to $56.00 in a research note on Thursday. Vertical Research downgraded shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, October 29th. Piper Sandler cut their target price on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley cut their target price on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Bank of America raised shares of Celanese from an “underperform” rating to a “buy” rating and dropped their price target for the stock from $95.00 to $88.00 in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $92.53.

Celanese Trading Down 4.3 %

Shares of CE traded down $2.35 during mid-day trading on Thursday, reaching $52.57. The company had a trading volume of 425,082 shares, compared to its average volume of 2,463,791. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of -3.78, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. The firm has a fifty day simple moving average of $68.90 and a 200-day simple moving average of $97.98. Celanese has a fifty-two week low of $52.49 and a fifty-two week high of $172.16. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47.

Celanese (NYSE:CE) last issued its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.01%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. On average, sell-side analysts anticipate that Celanese will post 8.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Celanese

Several hedge funds and other institutional investors have recently modified their holdings of CE. DT Investment Partners LLC increased its position in shares of Celanese by 128.8% in the 3rd 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 during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Celanese in the 4th quarter worth about $25,000. UMB Bank n.a. boosted its holdings in shares of Celanese by 103.7% in the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after buying an additional 194 shares during the period. State of Wyoming boosted its holdings in shares of Celanese by 122.5% in the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company’s stock valued at $34,000 after buying an additional 267 shares during the period. Finally, CKW Financial Group boosted its holdings in shares of Celanese by 52.9% in the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after buying an additional 185 shares during the period. 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.