Celanese (NYSE:CE) Price Target Cut to $58.00 by Analysts at Citigroup

Celanese (NYSE:CE) had its target price dropped by stock analysts at Citigroup from $60.00 to $58.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective would indicate a potential upside of 29.68% from the company’s previous close.

CE has been the subject of several other research reports. Mizuho set a $50.00 target price on shares of Celanese in a report on Wednesday, August 5th. Wells Fargo & Company reduced their price objective on shares of Celanese from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Bank of America decreased their price objective on shares of Celanese from $72.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. BMO Capital Markets dropped their target price on shares of Celanese from $57.00 to $54.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celanese in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Celanese has a consensus rating of “Moderate Buy” and an average price target of $62.60.

Celanese Stock Down 0.3%

Shares of CE stock traded down $0.11 during trading hours on Wednesday, reaching $44.73. The company had a trading volume of 561,430 shares, compared to its average volume of 2,136,021. Celanese has a 12 month low of $35.13 and a 12 month high of $70.70. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.45 and a quick ratio of 0.87. The business has a fifty day simple moving average of $45.41 and a 200-day simple moving average of $52.39. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -4.18, a price-to-earnings-growth ratio of 0.30 and a beta of 0.76.

Celanese (NYSE:CE) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.22. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.75 billion. Celanese had a positive return on equity of 13.04% and a negative net margin of 12.04%.Celanese’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.44 earnings per share. Celanese has set its Q3 2026 guidance at 1.350-1.750 EPS. On average, research analysts expect that Celanese will post 6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Mark Murray bought 2,153 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were purchased at an average cost of $45.52 per share, for a total transaction of $98,004.56. Following the completion of the purchase, the senior vice president directly owned 30,432 shares in the company, valued at $1,385,264.64. The trade was a 7.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Celanese

A number of hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new position in Celanese during the second quarter valued at $47,000. EverSource Wealth Advisors LLC lifted its position in shares of Celanese by 65.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,044 shares of the basic materials company’s stock valued at $69,000 after buying an additional 413 shares during the last quarter. Allworth Financial LP bought a new position in shares of Celanese during the 2nd quarter worth $52,000. Deseret Mutual Benefit Administrators increased its holdings in Celanese by 20.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,399 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 240 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its stake in Celanese by 14.5% in the 1st quarter. AdvisorNet Financial Inc now owns 1,815 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 230 shares during the period. Institutional investors own 98.87% of the company’s stock.

About Celanese

Celanese Corporation is a global chemical and specialty materials company headquartered in Irving, Texas. The company develops and manufactures engineered polymers, specialty chemicals and other materials used in a broad range of industries, including automotive, medical, electronics, consumer products, industrial equipment, coatings and packaging.

Celanese operates through two primary businesses: Engineered Materials and the Acetyl Chain. Its engineered materials portfolio includes high-performance thermoplastics, engineered polymers and other specialty compounds used to replace metal and conventional materials in demanding applications.