Piper Sandler Issues Pessimistic Forecast for Celanese (NYSE:CE) Stock Price

Celanese (NYSE:CE) had its target price decreased by Piper Sandler from $98.00 to $77.00 in a research report report published on Tuesday morning,Benzinga reports. Piper Sandler currently has an underweight rating on the basic materials company’s stock.

Several other equities analysts have also recently issued reports on the company. Citigroup reduced their target price on Celanese from $100.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised shares of Celanese from a “hold” rating to a “buy” rating and dropped their target price for the stock from $135.00 to $110.00 in a research report on Wednesday, November 6th. Vertical Research cut shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, October 29th. Royal Bank of Canada lowered their price objective on shares of Celanese from $122.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Mizuho reduced their target price on Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Five 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 presently has an average rating of “Hold” and an average price target of $109.33.

Celanese Trading Down 2.1 %

Shares of CE opened at $64.88 on Tuesday. The stock has a market capitalization of $7.09 billion, a P/E ratio of 6.53, a PEG ratio of 0.72 and a beta of 1.18. Celanese has a twelve month low of $64.36 and a twelve month 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 firm has a fifty day simple moving average of $75.43 and a two-hundred day simple moving average of $112.27.

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

Celanese Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Wednesday, October 30th. Celanese’s payout ratio is currently 28.17%.

Hedge Funds Weigh In On Celanese

A number of hedge funds have recently bought and sold shares of the business. DT Investment Partners LLC grew its stake in shares of Celanese by 128.8% in 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 period. Fairscale Capital LLC bought a new stake in Celanese in the 2nd quarter worth approximately $28,000. Mather Group LLC. grew its position in Celanese by 124.0% in the 3rd quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 222 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Celanese by 1,395.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock valued at $87,000 after buying an additional 600 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Celanese during the 3rd quarter valued at $89,000. 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.