Celanese (NYSE:CE - Get Free Report) had its price objective dropped by stock analysts at Mizuho from $132.00 to $120.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the basic materials company's stock. Mizuho's price objective points to a potential upside of 29.03% from the stock's previous close.
Other research analysts also recently issued research reports about the stock. Piper Sandler downgraded shares of Celanese from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $180.00 to $150.00 in a research report on Thursday, September 5th. Robert W. Baird dropped their price target on shares of Celanese from $180.00 to $150.00 and set an "outperform" rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Celanese from $160.00 to $135.00 and set a "hold" rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company downgraded shares of Celanese from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $165.00 to $115.00 in a research report on Tuesday. Finally, BMO Capital Markets dropped their price target on shares of Celanese from $142.00 to $138.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $145.00.
Read Our Latest Research Report on Celanese
NYSE:CE traded down $30.50 during mid-day trading on Tuesday, hitting $93.00. 6,881,601 shares of the company's stock were exchanged, compared to its average volume of 803,421. The company has a 50 day simple moving average of $129.58 and a 200-day simple moving average of $138.25. The company has a current ratio of 1.28, a quick ratio of 0.74 and a debt-to-equity ratio of 1.45. Celanese has a fifty-two week low of $91.83 and a fifty-two week high of $172.16. The firm has a market capitalization of $10.16 billion, a P/E ratio of 5.30, a PEG ratio of 0.72 and a beta of 1.31.
Celanese (NYSE:CE - Get Free Report) last posted its earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.41). Celanese had a return on equity of 13.60% and a net margin of 18.24%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. The firm's quarterly revenue was down 2.8% on a year-over-year basis. As a group, research analysts expect that Celanese will post 10.24 earnings per share for the current year.
In other Celanese news, COO Scott A. Richardson sold 4,675 shares of Celanese stock in a transaction on Monday, August 19th. The shares were sold at an average price of $129.51, for a total transaction of $605,459.25. Following the transaction, the chief operating officer now directly owns 69,754 shares of the company's stock, valued at $9,033,840.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of CE. Norden Group LLC purchased a new position in Celanese during the 1st quarter worth $363,000. First Trust Direct Indexing L.P. boosted its holdings in shares of Celanese by 16.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 1,659 shares of the basic materials company's stock worth $285,000 after buying an additional 240 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Celanese by 109.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,047 shares of the basic materials company's stock worth $4,133,000 after buying an additional 12,553 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in shares of Celanese by 257.9% in the 1st quarter. Capstone Investment Advisors LLC now owns 2,210 shares of the basic materials company's stock worth $380,000 after buying an additional 3,610 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Celanese by 12.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 10,263 shares of the basic materials company's stock worth $1,764,000 after buying an additional 1,118 shares during the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Celanese, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Celanese wasn't on the list.
While Celanese currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.