Deutsche Bank Aktiengesellschaft Cuts Celanese (NYSE:CE) Price Target to $140.00

Celanese (NYSE:CEGet Rating) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $175.00 to $140.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other equities analysts also recently commented on the stock. Bank of America lowered their price objective on shares of Celanese from $171.00 to $144.00 and set a neutral rating for the company in a research note on Wednesday, July 13th. Citigroup downgraded shares of Celanese from a buy rating to a neutral rating and decreased their price target for the stock from $143.00 to $118.00 in a research note on Monday. Wells Fargo & Company decreased their price target on shares of Celanese from $200.00 to $180.00 and set an overweight rating for the company in a research note on Monday, June 27th. UBS Group decreased their price target on shares of Celanese from $166.00 to $163.00 and set a buy rating for the company in a research note on Friday, July 29th. Finally, StockNews.com downgraded shares of Celanese from a buy rating to a hold rating in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $161.80.

Celanese Stock Performance

NYSE CE opened at $110.98 on Tuesday. The company has a 50-day simple moving average of $126.27 and a two-hundred day simple moving average of $140.25. The company has a quick ratio of 1.06, a current ratio of 1.72 and a debt-to-equity ratio of 0.58. Celanese has a 12-month low of $104.74 and a 12-month high of $176.50. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 6.19 and a beta of 1.22.

Celanese (NYSE:CEGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The basic materials company reported $4.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the business posted $5.02 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts forecast that Celanese will post 17.96 EPS for the current year.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Monday, July 25th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, July 22nd. Celanese’s payout ratio is 15.16%.

Institutional Investors Weigh In On Celanese

A number of institutional investors have recently made changes to their positions in CE. Ranch Capital Advisors Inc. boosted its holdings in Celanese by 2.7% in the fourth quarter. Ranch Capital Advisors Inc. now owns 2,543 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 68 shares during the last quarter. Chesley Taft & Associates LLC boosted its holdings in Celanese by 5.1% in the first quarter. Chesley Taft & Associates LLC now owns 1,440 shares of the basic materials company’s stock worth $207,000 after purchasing an additional 70 shares during the last quarter. Private Portfolio Partners LLC boosted its holdings in Celanese by 1.9% in the first quarter. Private Portfolio Partners LLC now owns 4,008 shares of the basic materials company’s stock worth $573,000 after purchasing an additional 75 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Celanese by 9.2% in the first quarter. Belpointe Asset Management LLC now owns 901 shares of the basic materials company’s stock worth $129,000 after purchasing an additional 76 shares during the last quarter. Finally, Summit Global Investments boosted its holdings in Celanese by 0.3% in the first quarter. Summit Global Investments now owns 25,089 shares of the basic materials company’s stock worth $3,584,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.

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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Analyst Recommendations for Celanese (NYSE:CE)

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