Citigroup Downgrades Celanese (NYSE:CE) to Neutral

Celanese (NYSE:CEGet Rating) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday, Marketbeat reports. They presently have a $118.00 target price on the basic materials company’s stock, down from their prior target price of $143.00. Citigroup’s target price would suggest a potential upside of 5.88% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price objective on Celanese from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, June 27th. Royal Bank of Canada cut Celanese from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $200.00 to $116.00 in a report on Wednesday, July 13th. Bank of America decreased their price objective on Celanese from $171.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. UBS Group decreased their price objective on Celanese from $166.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Finally, Jefferies Financial Group lowered Celanese from a “buy” rating to a “hold” rating in a research report on Thursday, June 16th. Two equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $161.80.

Celanese Stock Down 2.1 %

CE stock opened at $111.45 on Monday. The stock has a fifty day moving average of $127.98 and a 200-day moving average of $140.89. 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 has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.72. Celanese has a fifty-two week low of $104.74 and a fifty-two week high of $176.50.

Celanese (NYSE:CEGet 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. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Celanese had a return on equity of 46.75% and a net margin of 20.55%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.02 EPS. As a group, equities research analysts predict that Celanese will post 17.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CE. Parkside Financial Bank & Trust raised its stake in shares of Celanese by 92.6% in 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 last quarter. Clearstead Advisors LLC raised its stake in shares of Celanese by 830.0% in 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 last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Celanese by 355.6% in 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 last quarter. Clear Street Markets LLC raised its stake in shares of Celanese by 415.9% in 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 last quarter. Finally, Herold Advisors Inc. purchased a new position in shares of Celanese in the first quarter worth $35,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.

About Celanese

(Get Rating)

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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Analyst Recommendations for Celanese (NYSE:CE)

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