UBS Group Has Lowered Expectations for Celanese (NYSE:CE) Stock Price

Celanese (NYSE:CE) had its price objective dropped by investment analysts at UBS Group from $72.00 to $60.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price objective would suggest a potential upside of 14.84% from the stock’s current price.

Several other research firms have also recently weighed in on CE. Jefferies Financial Group dropped their price objective on Celanese from $102.00 to $82.00 in a report on Thursday, December 5th. Piper Sandler lowered their target price on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Bank of America upgraded Celanese from an “underperform” rating to a “buy” rating and cut their target price for the company from $95.00 to $88.00 in a research note on Tuesday, January 14th. Wells Fargo & Company dropped their price objective on Celanese from $75.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada lowered shares of Celanese from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $84.00 to $56.00 in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.35.

Celanese Stock Down 4.8 %

NYSE CE traded down $2.66 on Thursday, hitting $52.25. 684,897 shares of the company were exchanged, compared to its average volume of 2,464,227. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47. Celanese has a 12 month low of $52.49 and a 12 month high of $172.16. The stock has a fifty day moving average of $68.90 and a 200-day moving average of $97.98. The company has a market cap of $5.71 billion, a PE ratio of -3.76, a PEG ratio of 1.39 and a beta of 1.17.

Celanese (NYSE:CE) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. Celanese had a positive return on equity of 12.01% and a negative net margin of 14.81%. As a group, analysts forecast that Celanese will post 8.79 earnings per share for the current year.

Institutional Trading of Celanese

A number of hedge funds have recently bought and sold shares of CE. DT Investment Partners LLC grew its holdings in shares of Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Altshuler Shaham Ltd bought a new position in Celanese in the 4th quarter worth approximately $25,000. UMB Bank n.a. increased its stake in shares of Celanese by 103.7% during the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 194 shares during the period. State of Wyoming raised its position in 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 acquiring an additional 267 shares in the last quarter. Finally, CKW Financial Group boosted its holdings in Celanese by 52.9% during the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds 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.