Celanese (NYSE:CE) Price Target Lowered to $77.00 at Piper Sandler

by · The Cerbat Gem

Celanese (NYSE:CE – Free Report) had its price target decreased by Piper Sandler from $98.00 to $77.00 in a research report sent to investors on Tuesday,Benzinga reports. Piper Sandler currently has an underweight rating on the basic materials company’s stock.

CE has been the subject of a number of other research reports. Royal Bank of Canada decreased their price target on shares of Celanese from $122.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Citigroup reduced their target price on Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Jefferies Financial Group dropped their price target on Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. UBS Group cut Celanese from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $161.00 to $97.00 in a research note on Monday, November 11th. Finally, Vertical Research downgraded Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, October 29th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Celanese presently has a consensus rating of “Hold” and a consensus target price of $109.33.

Get Our Latest Report on Celanese

Celanese Stock Performance

Shares of CE opened at $66.26 on Tuesday. Celanese has a 12 month low of $65.50 and a 12 month high of $172.16. The stock has a fifty day moving average price of $76.68 and a 200-day moving average price of $112.60. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47. The firm has a market cap of $7.24 billion, a PE ratio of 6.67, a P/E/G ratio of 0.72 and a beta of 1.18.

Celanese (NYSE:CE – Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.41). Celanese had a return on equity of 13.17% and a net margin of 10.40%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $2.50 EPS. Celanese’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Celanese will post 8.38 earnings per share for the current fiscal year.

Celanese Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a $0.70 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.23%. Celanese’s payout ratio is 28.17%.

Institutional Trading of Celanese

Institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division lifted its position in shares of Celanese by 102.2% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,550 shares of the basic materials company’s stock valued at $315,000 after buying an additional 2,300 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Celanese during the fourth quarter valued at $209,000. GAMMA Investing LLC grew its position in shares of Celanese by 148.8% in the fourth quarter. GAMMA Investing LLC now owns 4,724 shares of the basic materials company’s stock valued at $327,000 after purchasing an additional 2,825 shares during the period. Principal Financial Group Inc. increased its stake in shares of Celanese by 11.8% during the third quarter. Principal Financial Group Inc. now owns 128,201 shares of the basic materials company’s stock worth $17,430,000 after purchasing an additional 13,503 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Celanese during the 3rd quarter worth about $1,302,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Company Profile

(Get Free Report)

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials 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.

Read More