Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Celanese (NYSE:CE) Stock Price

Celanese (NYSE:CE) had its target price decreased by equities research analysts at Deutsche Bank Aktiengesellschaft from $85.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 33.96% from the company’s current price.

Other analysts have also recently issued reports about the company. Jefferies Financial Group dropped their price target on Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Wells Fargo & Company decreased their price target on Celanese from $75.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday. Citigroup upgraded shares of Celanese to a “neutral” rating and boosted their target price for the stock from $73.00 to $76.00 in a report on Thursday, January 23rd. BMO Capital Markets decreased their price target on Celanese from $73.00 to $46.00 and set an “underperform” rating for the company in a research report on Thursday. Finally, Bank of America raised shares of 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. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three 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 $83.53.

Celanese Stock Performance

NYSE CE traded down $2.66 during trading on Thursday, reaching $52.25. The company’s stock had a trading volume of 1,177,764 shares, compared to its average volume of 2,478,695. The business’s fifty day moving average price is $68.90 and its 200-day moving average price is $97.98. Celanese has a twelve month low of $52.02 and a twelve month high of $172.16. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of -3.73, a P/E/G ratio of 1.39 and a beta of 1.17. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CE. DT Investment Partners LLC lifted its position in Celanese by 128.8% in the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Celanese by 5.2% in the third quarter. First Trust Direct Indexing L.P. now owns 2,265 shares of the basic materials company’s stock worth $308,000 after buying an additional 111 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of Celanese by 0.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock valued at $2,954,000 after acquiring an additional 145 shares during the period. Neumann Capital Management LLC grew its stake in shares of Celanese by 5.3% in the third quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock worth $408,000 after purchasing an additional 150 shares during the last quarter. Finally, Focus Partners Wealth raised its position in Celanese by 3.9% during the 4th quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company’s stock valued at $291,000 after purchasing an additional 156 shares during the last quarter. 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.