Celanese (NYSE:CE) Given New $54.00 Price Target at JPMorgan Chase & Co.

Celanese (NYSE:CE) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $92.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.51% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Citigroup upgraded Celanese to a “neutral” rating and lifted their price objective for the company from $73.00 to $76.00 in a research note on Thursday, January 23rd. Barclays reduced their target price on Celanese from $88.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada cut shares of Celanese from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $84.00 to $56.00 in a research note on Thursday. Mizuho decreased their price objective on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Finally, BMO Capital Markets reduced their price target on shares of Celanese from $73.00 to $46.00 and set an “underperform” rating for the company in a research report on Thursday. Four 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.88.

Celanese Stock Performance

CE traded down $2.74 on Thursday, reaching $52.17. 936,041 shares of the stock were exchanged, compared to its average volume of 2,464,227. The company’s 50-day moving average price is $68.90 and its 200 day moving average price is $97.98. The firm has a market capitalization of $5.70 billion, a PE ratio of -3.74, a PEG ratio of 1.39 and a beta of 1.17. Celanese has a fifty-two week low of $52.02 and a fifty-two week high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76.

Celanese (NYSE:CE) last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The business 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, sell-side analysts forecast that Celanese will post 8.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Celanese

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DT Investment Partners LLC increased its stake in Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in Celanese during the fourth quarter worth $25,000. UMB Bank n.a. grew its stake in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after buying an additional 194 shares in the last quarter. State of Wyoming grew its stake 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 valued at $34,000 after buying an additional 267 shares in the last quarter. Finally, CKW Financial Group grew its stake in shares of Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $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.