Celanese (NYSE:CE) was downgraded by equities researchers at Deutsche Bank from a “buy” rating to a “hold” rating in a report released on Sunday, MarketBeat.com reports. They presently have a $110.00 price target on the basic materials company’s stock. Deutsche Bank’s price target would indicate a potential upside of 5.78% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on CE. Royal Bank of Canada reaffirmed a “buy” rating and issued a $118.00 target price on shares of Celanese in a research note on Thursday, December 20th. Alembic Global Advisors reaffirmed a “sell” rating on shares of Celanese in a research note on Thursday, December 20th. Zacks Investment Research reaffirmed a “hold” rating on shares of Celanese in a research note on Monday, December 31st. BMO Capital Markets downgraded shares of Celanese from an “outperform” rating to a “market perform” rating and set a $107.00 target price on the stock. in a research note on Tuesday, January 8th. Finally, SunTrust Banks downgraded shares of Celanese from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Celanese currently has a consensus rating of “Hold” and an average price target of $114.22.

Shares of CE opened at $103.99 on Friday. The company has a market capitalization of $13.08 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.98 and a beta of 1.32. The company has a current ratio of 1.62, a quick ratio of 1.03 and a debt-to-equity ratio of 0.88. Celanese has a 1-year low of $82.91 and a 1-year high of $119.29.

Celanese (NYSE:CE) last announced its earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.02). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Celanese had a net margin of 16.87% and a return on equity of 40.37%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.98 earnings per share. On average, analysts anticipate that Celanese will post 10.41 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC grew its holdings in shares of Celanese by 23.1% in the fourth quarter. Nuveen Asset Management LLC now owns 273,162 shares of the basic materials company’s stock worth $24,576,000 after purchasing an additional 51,275 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Celanese by 20.1% in the fourth quarter. DNB Asset Management AS now owns 23,991 shares of the basic materials company’s stock worth $2,158,000 after purchasing an additional 4,011 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Celanese by 14.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 71,746 shares of the basic materials company’s stock worth $6,454,000 after purchasing an additional 9,143 shares during the last quarter. Daiwa SB Investments Ltd. grew its holdings in shares of Celanese by 121.8% in the fourth quarter. Daiwa SB Investments Ltd. now owns 1,730 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 950 shares during the last quarter. Finally, Coastline Trust Co grew its holdings in shares of Celanese by 2.8% in the fourth quarter. Coastline Trust Co now owns 9,255 shares of the basic materials company’s stock worth $833,000 after purchasing an additional 255 shares during the last quarter. 96.45% of the stock is currently owned by hedge funds and other institutional investors.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

Further Reading: Limitations of the P/E Growth ratio

Analyst Recommendations for Celanese (NYSE:CE)

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