Wells Fargo & Company Issues Pessimistic Forecast for Celanese (NYSE:CE) Stock Price

Celanese (NYSE:CE - Get Free Report) had its target price dropped by equities research analysts at Wells Fargo & Company from $55.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the basic materials company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 2.12% from the stock's previous close.

A number of other brokerages also recently commented on CE. UBS Group decreased their price objective on shares of Celanese from $60.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Evercore ISI decreased their price target on shares of Celanese from $85.00 to $75.00 and set an "in-line" rating on the stock in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft upped their target price on Celanese from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Piper Sandler reaffirmed an "underweight" rating and set a $48.00 price target (down previously from $50.00) on shares of Celanese in a research note on Monday, April 7th. Finally, Morgan Stanley lowered their price objective on Celanese from $100.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $63.61.

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Celanese Trading Up 2.1 %

CE traded up $0.79 during trading on Wednesday, reaching $39.17. 3,515,198 shares of the company's stock were exchanged, compared to its average volume of 1,950,881. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34. Celanese has a fifty-two week low of $36.29 and a fifty-two week high of $169.50. The company's fifty day moving average price is $54.99 and its 200-day moving average price is $77.41. The firm has a market capitalization of $4.28 billion, a PE ratio of -2.81, a P/E/G ratio of 1.05 and a beta of 1.08.

Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.20. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. As a group, equities analysts forecast that Celanese will post 8.79 EPS for the current year.

Institutional Investors Weigh In On Celanese

Institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox increased its stake in shares of Celanese by 100.3% during the fourth quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company's stock worth $942,506,000 after buying an additional 6,818,993 shares during the period. Norges Bank purchased a new position in Celanese in the 4th quarter valued at approximately $222,815,000. Turtle Creek Asset Management Inc. lifted its stake in Celanese by 266.7% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company's stock valued at $242,681,000 after buying an additional 2,550,334 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Celanese by 4,506.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,344,661 shares of the basic materials company's stock worth $162,274,000 after acquiring an additional 2,293,764 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Celanese by 105.0% in the 4th quarter. Invesco Ltd. now owns 3,969,284 shares of the basic materials company's stock valued at $274,714,000 after purchasing an additional 2,033,025 shares in the last quarter. Institutional investors and hedge funds 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.