Morgan Stanley Cuts Celanese (NYSE:CE) Price Target to $80.00

Celanese (NYSE:CE) had its target price cut by Morgan Stanley from $100.00 to $80.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada cut their price objective on Celanese from $122.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and cut their price target for the company from $135.00 to $110.00 in a report on Wednesday, November 6th. Vertical Research lowered shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, October 29th. Citigroup cut their target price on shares of Celanese from $100.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, BMO Capital Markets lowered shares of Celanese from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $138.00 to $76.00 in a report on Monday, November 11th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $106.00.

Celanese Stock Up 0.1 %

Shares of NYSE CE opened at $71.07 on Monday. The firm’s fifty day moving average is $71.06 and its 200 day moving average is $109.87. Celanese has a 52 week low of $64.05 and a 52 week high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 0.72 and a beta of 1.18.

Celanese (NYSE:CE) last released its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. Celanese’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 EPS. On average, equities research analysts expect that Celanese will post 8.38 earnings per share for the current year.

Hedge Funds Weigh In On Celanese

Hedge funds have recently added to or reduced their stakes in the company. DT Investment Partners LLC boosted its stake in Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Celanese in the second quarter worth $28,000. Mather Group LLC. lifted its holdings in shares of Celanese by 124.0% during the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 222 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Celanese by 51.1% during the fourth quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock valued at $78,000 after buying an additional 382 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Celanese by 1,395.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock worth $87,000 after buying an additional 600 shares in the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

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.