Celanese (NYSE:CE) PT Lowered to $81.00 at Morgan Stanley

Celanese (NYSE:CE) had its price target reduced by Morgan Stanley from $110.00 to $81.00 in a report released on Monday, AnalystRatings.com reports. Morgan Stanley currently has an equal weight rating on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank began coverage on Celanese in a research report on Wednesday, March 18th. They set a buy rating and a $117.00 target price for the company. Deutsche Bank dropped their price objective on Celanese from $124.00 to $113.00 and set a hold rating for the company in a report on Tuesday, February 4th. Wells Fargo & Co decreased their target price on Celanese from to in a research note on Wednesday, March 18th. KeyCorp initiated coverage on Celanese in a research note on Wednesday, March 25th. They issued a sector weight rating for the company. Finally, Goldman Sachs Group raised Celanese from a neutral rating to a buy rating and reduced their price objective for the stock from $126.00 to $95.00 in a research report on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $108.32.

Shares of NYSE:CE traded up $0.55 during trading on Monday, hitting $68.60. 1,532,432 shares of the stock were exchanged, compared to its average volume of 1,108,079. The company’s fifty day simple moving average is $87.91 and its 200-day simple moving average is $112.60. 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 company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.39. Celanese has a 1-year low of $52.70 and a 1-year high of $128.88.

Celanese (NYSE:CE) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.10). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.52 billion. Celanese had a net margin of 13.53% and a return on equity of 37.36%. Celanese’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 EPS. On average, research analysts forecast that Celanese will post 9.85 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund raised its position in shares of Celanese by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 27,792 shares of the basic materials company’s stock worth $3,422,000 after acquiring an additional 96 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in Celanese by 6.3% in the 4th quarter. Tocqueville Asset Management L.P. now owns 1,798 shares of the basic materials company’s stock valued at $221,000 after buying an additional 106 shares in the last quarter. CSat Investment Advisory L.P. increased its position in Celanese by 25.6% in the 4th quarter. CSat Investment Advisory L.P. now owns 569 shares of the basic materials company’s stock valued at $71,000 after buying an additional 116 shares in the last quarter. Stanley Laman Group Ltd. boosted its stake in Celanese by 1.4% during the 4th quarter. Stanley Laman Group Ltd. now owns 8,732 shares of the basic materials company’s stock valued at $1,075,000 after purchasing an additional 117 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in Celanese by 4.0% during the 4th quarter. Wealthfront Advisers LLC now owns 3,085 shares of the basic materials company’s stock valued at $380,000 after purchasing an additional 118 shares during the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

About Celanese

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.

Read More: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for Celanese (NYSE:CE)

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.