Celanese (NYSE:CE) Given New $46.00 Price Target at UBS Group

Celanese (NYSE:CE - Free Report) had its target price trimmed by UBS Group from $60.00 to $46.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the basic materials company's stock.

A number of other research firms have also commented on CE. Citigroup dropped their price target on shares of Celanese from $58.00 to $52.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. KeyCorp raised Celanese from a "sector weight" rating to an "overweight" rating and set a $76.00 target price on the stock in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft upped their price target on Celanese from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Alembic Global Advisors upgraded shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Finally, BMO Capital Markets decreased their target price on Celanese from $73.00 to $46.00 and set an "underperform" rating on the stock in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $63.89.

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Celanese Stock Up 1.7 %

Shares of NYSE:CE traded up $0.64 during trading on Monday, reaching $38.22. 4,045,241 shares of the company traded hands, compared to its average volume of 1,938,751. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. Celanese has a 1-year low of $36.29 and a 1-year high of $169.50. The firm has a fifty day simple moving average of $54.99 and a 200 day simple moving average of $77.85. The firm has a market cap of $4.18 billion, a P/E ratio of -2.74, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08.

Celanese (NYSE:CE - Get Free Report) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. Analysts anticipate that Celanese will post 8.79 earnings per share for the current fiscal year.

Celanese Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.31%. Celanese's payout ratio is -0.86%.

Institutional Trading of Celanese

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Focus Partners Wealth grew its position in shares of Celanese by 3.9% in 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 period. United Capital Financial Advisors LLC lifted its position in Celanese by 2.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 6,167 shares of the basic materials company's stock valued at $427,000 after acquiring an additional 172 shares in the last quarter. CKW Financial Group increased its holdings in Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock worth $37,000 after purchasing an additional 185 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Celanese by 15.0% during the fourth quarter. Blue Trust Inc. now owns 1,476 shares of the basic materials company's stock worth $102,000 after buying an additional 192 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Celanese by 103.7% in the 4th 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 during the last quarter. 98.87% of the stock is owned by 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.