Celanese (NYSE:CE) Price Target Lowered to $160.00 at Deutsche Bank Aktiengesellschaft

Celanese (NYSE:CEFree Report) had its price target cut by Deutsche Bank Aktiengesellschaft from $175.00 to $160.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a hold rating on the basic materials company’s stock.

A number of other equities analysts also recently commented on CE. BMO Capital Markets boosted their price objective on Celanese from $153.00 to $158.00 and gave the stock a market perform rating in a research report on Tuesday, May 14th. KeyCorp boosted their price objective on Celanese from $176.00 to $190.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Piper Sandler boosted their price objective on Celanese from $170.00 to $180.00 and gave the stock an overweight rating in a research report on Friday, May 17th. Wells Fargo & Company boosted their price objective on Celanese from $180.00 to $195.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. Finally, Citigroup boosted their price objective on Celanese from $150.00 to $167.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $161.41.

View Our Latest Analysis on CE

Celanese Stock Down 1.0 %

Shares of NYSE:CE opened at $144.94 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 0.73. The firm has a market capitalization of $15.83 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 0.58 and a beta of 1.34. The firm’s 50-day moving average is $156.03 and its two-hundred day moving average is $152.76. Celanese has a 1 year low of $105.15 and a 1 year high of $172.16.

Celanese (NYSE:CEGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.17. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 earnings per share. Analysts predict that Celanese will post 11.47 EPS for the current year.

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, April 29th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, April 26th. Celanese’s payout ratio is currently 15.41%.

Insider Activity

In other news, COO Scott A. Richardson sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the sale, the chief operating officer now directly owns 76,429 shares of the company’s stock, valued at $11,987,888.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Scott A. Richardson sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the sale, the chief operating officer now directly owns 76,429 shares of the company’s stock, valued at $11,987,888.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Thomas Francis Kelly purchased 1,400 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $156.69 per share, with a total value of $219,366.00. Following the purchase, the senior vice president now directly owns 57,023 shares of the company’s stock, valued at $8,934,933.87. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Celanese

Large investors have recently modified their holdings of the stock. Mather Group LLC. purchased a new stake in shares of Celanese during the first quarter worth approximately $31,000. Johnson Financial Group Inc. purchased a new position in Celanese in the fourth quarter worth $28,000. Desjardins Global Asset Management Inc. raised its position in Celanese by 142.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. JFS Wealth Advisors LLC raised its position in Celanese by 100.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 94 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Celanese in the first quarter worth $31,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.

About Celanese

(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.

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