Celanese (NYSE:CE) Price Target Cut to $140.00 by Analysts at Deutsche Bank Aktiengesellschaft

Celanese (NYSE:CEGet Rating) had its target price decreased by Deutsche Bank Aktiengesellschaft from $175.00 to $140.00 in a research report sent to investors on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft currently has a maintains rating on the basic materials company’s stock.

Several other analysts have also commented on the stock. Credit Suisse Group initiated coverage on shares of Celanese in a research report on Monday, June 27th. They set an underperform rating and a $105.00 price target on the stock. Jefferies Financial Group lowered shares of Celanese from a buy rating to a hold rating in a research report on Thursday, June 16th. Citigroup lowered shares of Celanese from a buy rating to a neutral rating and dropped their price target for the company from $143.00 to $118.00 in a research report on Monday. UBS Group dropped their price target on shares of Celanese from $166.00 to $163.00 and set a buy rating on the stock in a research report on Friday, July 29th. Finally, Barclays dropped their price target on shares of Celanese from $190.00 to $165.00 and set a maintains rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Celanese has a consensus rating of Hold and a consensus price target of $161.80.

Celanese Trading Down 2.1 %

Shares of Celanese stock opened at $111.45 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.72 and a quick ratio of 1.06. The firm has a fifty day moving average price of $127.98 and a 200 day moving average price of $140.89. Celanese has a 1 year low of $104.74 and a 1 year high of $176.50. The stock has a market cap of $12.07 billion, a PE ratio of 6.21 and a beta of 1.22.

Celanese (NYSE:CEGet Rating) last issued its earnings results on Thursday, July 28th. The basic materials company reported $4.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.43. Celanese had a net margin of 20.55% and a return on equity of 46.75%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the company posted $5.02 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts predict that Celanese will post 17.55 earnings per share for the current year.

Celanese Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Monday, July 25th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, July 22nd. This represents a $2.72 dividend on an annualized basis and a yield of 2.44%. Celanese’s payout ratio is presently 15.16%.

Hedge Funds Weigh In On Celanese

Institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust raised its stake in Celanese by 92.6% during the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 87 shares during the period. Clearstead Advisors LLC raised its stake in Celanese by 830.0% during the first quarter. Clearstead Advisors LLC now owns 186 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 166 shares during the period. Clear Street Markets LLC raised its stake in Celanese by 415.9% during the second quarter. Clear Street Markets LLC now owns 227 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 183 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Celanese by 355.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 205 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 160 shares during the period. Finally, Herold Advisors Inc. purchased a new position in Celanese during the first quarter worth about $35,000. 93.81% of the stock is currently owned by institutional investors and hedge funds.

Celanese Company Profile

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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 three segments: Engineered Materials, Acetate Tow, 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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