Celanese (NYSE:CE) Given New $184.00 Price Target at UBS Group

Celanese (NYSE:CE) had its price target cut by UBS Group from $193.00 to $184.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

A number of other equities analysts have also weighed in on CE. Barclays lowered shares of Celanese from an overweight rating to an equal weight rating and set a $170.00 price target for the company. in a research report on Thursday, April 4th. Mizuho increased their price target on Celanese from $161.00 to $173.00 and gave the stock a neutral rating in a research note on Thursday, May 9th. BMO Capital Markets reissued a market perform rating and set a $158.00 price target on shares of Celanese in a report on Tuesday, June 11th. Piper Sandler upped their price objective on Celanese from $170.00 to $180.00 and gave the stock an overweight rating in a research note on Friday, May 17th. Finally, KeyCorp lifted their target price on Celanese from $176.00 to $190.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $159.65.

Celanese Trading Up 2.2 %

Shares of Celanese stock opened at $142.23 on Tuesday. Celanese has a 1-year low of $110.76 and a 1-year high of $172.16. The company’s fifty day simple moving average is $145.94 and its 200-day simple moving average is $151.48. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 0.73. The stock has a market capitalization of $15.53 billion, a PE ratio of 7.83, a P/E/G ratio of 0.54 and a beta of 1.30.

Celanese (NYSE:CE) last released its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.17. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.67 billion. Celanese had a return on equity of 14.00% and a net margin of 18.60%. Celanese’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 earnings per share. As a group, equities analysts anticipate that Celanese will post 11.41 earnings per share for the current year.

Celanese Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, April 29th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, April 26th. Celanese’s payout ratio is 15.41%.

Hedge Funds Weigh In On Celanese

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Johnson Financial Group Inc. bought a new stake in Celanese in the fourth quarter worth $28,000. Desjardins Global Asset Management Inc. increased its stake in shares of Celanese by 142.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after buying an additional 108 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of Celanese by 100.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 94 shares in the last quarter. Mather Group LLC. purchased a new stake in Celanese in the first quarter worth about $31,000. Finally, LRI Investments LLC bought a new position in Celanese during the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.

About Celanese

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.