Celanese (NYSE:CE) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Celanese (NYSE:CE) had its price objective raised by stock analysts at Deutsche Bank Aktiengesellschaft from $70.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 31.25% from the company’s previous close.

A number of other equities analysts also recently weighed in on CE. Morgan Stanley cut their target price on Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets cut their price objective on Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Evercore ISI decreased their target price on Celanese from $85.00 to $75.00 and set an “in-line” rating for the company in a research report on Monday, March 24th. UBS Group cut their price target on shares of Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Royal Bank of Canada downgraded shares of Celanese from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $84.00 to $56.00 in a report on Thursday, February 20th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.94.

Celanese Trading Down 1.9 %

Shares of Celanese stock opened at $57.14 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The stock has a fifty day simple moving average of $61.62 and a 200 day simple moving average of $84.58. Celanese has a 12-month low of $45.94 and a 12-month high of $172.10. The company has a market capitalization of $6.25 billion, a P/E ratio of -4.10, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE) last announced its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. On average, sell-side analysts anticipate that Celanese will post 8.79 earnings per share for the current fiscal year.

Institutional Trading of Celanese

A number of large investors have recently made changes to their positions in CE. State Street Corp grew its position in Celanese by 3.1% in the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after acquiring an additional 136,994 shares in the last quarter. Zacks Investment Management lifted its stake in shares of Celanese by 6.5% in the 3rd quarter. Zacks Investment Management now owns 160,443 shares of the basic materials company’s stock valued at $21,814,000 after purchasing an additional 9,782 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Celanese by 5.1% in the 4th quarter. Sanctuary Advisors LLC now owns 7,213 shares of the basic materials company’s stock worth $521,000 after purchasing an additional 351 shares during the period. BNP Paribas Financial Markets increased its position in shares of Celanese by 12.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 147,001 shares of the basic materials company’s stock valued at $19,986,000 after purchasing an additional 16,308 shares during the last quarter. Finally, Twelve Points Wealth Management LLC increased its position in shares of Celanese by 157.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 10,124 shares of the basic materials company’s stock valued at $701,000 after purchasing an additional 6,197 shares during the last quarter. 98.87% of the stock is currently owned by institutional investors.

About Celanese

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.