Celanese (NYSE:CE) Price Target Cut to $165.00 by Analysts at Barclays

Posted by MarketBeat News on Aug 3rd, 2022

Celanese (NYSE:CE – Get Rating) had its price objective decreased by Barclays from $190.00 to $165.00 in a research note issued to investors on Tuesday morning, The Fly reports. Barclays currently has a maintains rating on the basic materials company’s stock.

A number of other research analysts also recently issued reports on the stock. UBS Group cut their price objective 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. Bank of America cut their price objective on shares of Celanese from $171.00 to $144.00 and set a neutral rating on the stock in a research report on Wednesday, July 13th. Piper Sandler lifted their target price on shares of Celanese from $140.00 to $145.00 and gave the stock an underweight rating in a research note on Wednesday, May 18th. StockNews.com cut shares of Celanese from a buy rating to a hold rating in a research note on Friday, July 29th. Finally, Citigroup cut shares of Celanese from a buy rating to a neutral rating and lowered their target price for the stock from $143.00 to $118.00 in a research note on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $161.80.

Celanese Trading Down 2.1 %

NYSE CE opened at $111.45 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.72. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 6.21 and a beta of 1.22. The company’s 50-day simple moving average is $127.98 and its two-hundred day simple moving average is $140.89. Celanese has a one year low of $104.74 and a one year high of $176.50.

Celanese (NYSE:CE – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The basic materials company reported $4.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm earned $5.02 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts forecast that Celanese will post 17.55 EPS for the current fiscal year.

Celanese Dividend Announcement

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

Hedge Funds Weigh In On Celanese

Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Celanese by 2.7% in the 1st quarter. BlackRock Inc. now owns 7,849,893 shares of the basic materials company’s stock valued at $1,121,512,000 after purchasing an additional 207,520 shares during the period. Brown Brothers Harriman & Co. increased its holdings in Celanese by 2.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 2,409,786 shares of the basic materials company’s stock worth $344,286,000 after acquiring an additional 49,289 shares in the last quarter. Geode Capital Management LLC increased its holdings in Celanese by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,052,472 shares of the basic materials company’s stock worth $344,931,000 after acquiring an additional 24,520 shares in the last quarter. Norges Bank purchased a new stake in Celanese in the 4th quarter worth $223,876,000. Finally, Bank of America Corp DE increased its holdings in Celanese by 5.6% in the 4th quarter. Bank of America Corp DE now owns 1,154,460 shares of the basic materials company’s stock worth $194,020,000 after acquiring an additional 61,545 shares in the last quarter. 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.