Celanese Co. (NYSE:CE) Receives Average Recommendation of “Hold” from Analysts

Celanese Co. (NYSE:CE) has earned a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $106.00.

A number of analysts recently weighed in on CE shares. Royal Bank of Canada lowered their target price on shares of Celanese from $122.00 to $88.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and cut their target price for the company from $135.00 to $110.00 in a research note on Wednesday, November 6th. Jefferies Financial Group decreased their price target on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Piper Sandler cut their price target on Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Robert W. Baird dropped their price objective on Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th.

Institutional Investors Weigh In On Celanese

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

Celanese Trading Up 0.1 %

Shares of CE opened at $71.07 on Thursday. The stock’s 50-day moving average price is $71.06 and its 200 day moving average price is $109.87. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 7.15, a P/E/G ratio of 0.72 and a beta of 1.18. Celanese has a 12-month low of $64.05 and a 12-month high of $172.16.

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

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.