UBS Group Lowers Celanese (NYSE:CE) Price Target to $95.00

Celanese (NYSE:CE) had its target price cut by UBS Group from $128.00 to $95.00 in a research note published on Monday morning, BenzingaRatingsTable reports. They currently have a buy rating on the basic materials company’s stock.

Several other equities analysts also recently commented on the stock. Wells Fargo & Co dropped their price objective on shares of Celanese from to in a research note on Wednesday, March 18th. Bank of America raised shares of Celanese from an underperform rating to a neutral rating and set a $110.00 price objective for the company in a research note on Monday, February 3rd. Zacks Investment Research raised shares of Celanese from a sell rating to a hold rating and set a $113.00 price objective for the company in a research note on Wednesday, February 5th. Robert W. Baird dropped their price objective on shares of Celanese from $135.00 to $120.00 and set an outperform rating for the company in a research note on Monday, February 3rd. Finally, Scotiabank initiated coverage on shares of Celanese in a research note on Wednesday, March 18th. They issued a buy rating and a $117.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. Celanese presently has a consensus rating of Hold and an average price target of $111.63.

Shares of Celanese stock traded up $2.66 on Monday, reaching $75.53. 1,571,746 shares of the stock were exchanged, compared to its average volume of 1,110,524. The firm’s 50 day moving average is $92.29 and its 200-day moving average is $114.04. Celanese has a one year low of $52.70 and a one year high of $128.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.98 and a current ratio of 1.58. The firm has a market cap of $8.00 billion, a PE ratio of 11.14, a P/E/G ratio of 1.14 and a beta of 1.31.

Celanese (NYSE:CE) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.10). Celanese had a return on equity of 37.36% and a net margin of 13.53%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the company posted $2.38 EPS. The business’s revenue was down 15.2% on a year-over-year basis. On average, equities research analysts expect that Celanese will post 10.51 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, February 14th. Celanese’s dividend payout ratio (DPR) is currently 26.02%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Trust Co. NA acquired a new position in Celanese in the 4th quarter valued at approximately $230,000. Parametric Portfolio Associates LLC increased its position in shares of Celanese by 27.4% during the third quarter. Parametric Portfolio Associates LLC now owns 452,384 shares of the basic materials company’s stock worth $55,322,000 after buying an additional 97,168 shares during the period. Wealthsource Partners LLC increased its position in shares of Celanese by 30.2% during the third quarter. Wealthsource Partners LLC now owns 4,691 shares of the basic materials company’s stock worth $574,000 after buying an additional 1,087 shares during the period. Tuttle Tactical Management acquired a new stake in shares of Celanese during the fourth quarter worth $1,011,000. Finally, Tocqueville Asset Management L.P. increased its position in shares of Celanese by 6.3% during the fourth quarter. Tocqueville Asset Management L.P. now owns 1,798 shares of the basic materials company’s stock worth $221,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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