Royal Bank Of Canada Reiterates $45.00 Price Target for Celanese (NYSE:CE)

Celanese (NYSE:CE) received a $45.00 target price from analysts at Royal Bank Of Canada in a research note issued on Thursday, MarketBeat reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 5.46% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft set a $52.00 price target on Celanese and gave the stock a “buy” rating in a report on Wednesday. Citigroup boosted their target price on Celanese from $52.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday, July 10th. Robert W. Baird reduced their price target on shares of Celanese from $67.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday. KeyCorp set a $70.00 price target on shares of Celanese and gave the company an “overweight” rating in a report on Wednesday. Finally, UBS Group dropped their price objective on shares of Celanese from $66.00 to $49.00 and set a “neutral” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Celanese currently has a consensus rating of “Hold” and a consensus price target of $59.94.

Celanese Trading Up 2.1%

Shares of CE stock opened at $42.67 on Thursday. The stock has a market cap of $4.67 billion, a P/E ratio of -2.88, a price-to-earnings-growth ratio of 1.57 and a beta of 1.10. Celanese has a 1 year low of $36.29 and a 1 year high of $142.54. The company has a current ratio of 2.05, a quick ratio of 1.11 and a debt-to-equity ratio of 2.22. The stock has a 50 day simple moving average of $55.19 and a 200 day simple moving average of $53.96.

Celanese (NYSE:CE) last released its earnings results on Monday, August 11th. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. Celanese had a positive return on equity of 10.48% and a negative net margin of 16.30%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $2.38 EPS. The company’s revenue was down 4.5% compared to the same quarter last year. On average, research analysts predict that Celanese will post 8.79 earnings per share for the current fiscal year.

Insider Activity

In other Celanese news, SVP Mark Christopher Murray acquired 1,479 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $52.18 per share, with a total value of $77,174.22. Following the acquisition, the senior vice president owned 15,468 shares in the company, valued at approximately $807,120.24. This represents a 10.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celanese

Several institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in shares of Celanese during the 4th quarter valued at $25,000. Strengthening Families & Communities LLC grew its holdings in Celanese by 73.2% during the 1st quarter. Strengthening Families & Communities LLC now owns 440 shares of the basic materials company’s stock valued at $25,000 after buying an additional 186 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Celanese during the first quarter valued at about $30,000. State of Wyoming lifted its holdings in shares of Celanese by 122.5% in the fourth quarter. State of Wyoming now owns 485 shares of the basic materials company’s stock worth $34,000 after buying an additional 267 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Celanese by 55.4% in the second quarter. SBI Securities Co. Ltd. now owns 623 shares of the basic materials company’s stock worth $34,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Company Profile

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.