Celanese (NYSE:CE - Get Free Report) had its price target raised by equities research analysts at Wells Fargo & Company from $40.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the basic materials company's stock. Wells Fargo & Company's price target would suggest a potential downside of 19.55% from the stock's current price.
A number of other brokerages also recently issued reports on CE. Vertical Research raised Celanese from a "sell" rating to a "hold" rating and set a $66.00 price target for the company in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Royal Bank of Canada lowered Celanese from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $84.00 to $56.00 in a research report on Thursday, February 20th. Mizuho set a $45.00 price target on shares of Celanese in a research report on Tuesday, April 15th. Finally, Bank of America decreased their price objective on Celanese from $88.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $61.89.
View Our Latest Analysis on CE
Celanese Trading Up 9.2%
Celanese stock traded up $4.72 during trading on Wednesday, reaching $55.93. 1,386,395 shares of the company were exchanged, compared to its average volume of 2,147,573. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. The stock's 50 day simple moving average is $48.56 and its two-hundred day simple moving average is $64.75. The company has a market capitalization of $6.12 billion, a P/E ratio of -4.02, a PEG ratio of 1.05 and a beta of 1.09. Celanese has a 52-week low of $36.29 and a 52-week high of $161.94.
Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.37 by $0.20. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The company's quarterly revenue was down 8.5% on a year-over-year basis. On average, equities research analysts expect that Celanese will post 8.79 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its stake in Celanese by 14.0% in the 3rd quarter. Barclays PLC now owns 281,709 shares of the basic materials company's stock valued at $38,300,000 after buying an additional 34,658 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Celanese during the 3rd quarter worth $179,000. Principal Financial Group Inc. boosted its stake in shares of Celanese by 11.8% in the 3rd quarter. Principal Financial Group Inc. now owns 128,201 shares of the basic materials company's stock valued at $17,430,000 after purchasing an additional 13,503 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Celanese during the fourth quarter worth $209,000. Finally, First Hawaiian Bank increased its holdings in Celanese by 116.0% in the 4th quarter. First Hawaiian Bank now owns 15,400 shares of the basic materials company's stock worth $1,066,000 after purchasing an additional 8,269 shares in the last quarter. 98.87% of the stock is currently owned by institutional investors.
About Celanese
(
Get Free Report)
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.
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