Citigroup Increases Celanese (CE) Price Target to $128.00

Celanese (NYSE:CE) had its price target lifted by Citigroup from $123.00 to $128.00 in a note issued to investors on Monday. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target suggests a potential upside of 15.07% from the company’s current price.

A number of other equities analysts have also weighed in on CE. ValuEngine lowered shares of Celanese from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Nomura upped their target price on shares of Celanese from $97.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 10th. Instinet restated a “neutral” rating and set a $100.00 target price (up previously from $97.00) on shares of Celanese in a research report on Friday, October 13th. KeyCorp upped their target price on shares of Celanese from $106.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Finally, UBS Group upped their target price on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $109.46.

Shares of Celanese (NYSE:CE) traded down $0.12 during midday trading on Monday, hitting $111.24. 102,877 shares of the stock were exchanged, compared to its average volume of 622,878. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $15,104.42, a PE ratio of 18.24, a PEG ratio of 1.49 and a beta of 1.32. Celanese has a 1 year low of $83.13 and a 1 year high of $114.00.

Celanese (NYSE:CE) last announced its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.12. Celanese had a net margin of 13.73% and a return on equity of 33.49%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $1.52 earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. sell-side analysts expect that Celanese will post 8.32 earnings per share for the current fiscal year.

In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the chief financial officer now owns 52,924 shares in the company, valued at $5,821,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CE. Dodge & Cox purchased a new position in Celanese during the 4th quarter valued at about $1,048,252,000. BlackRock Inc. increased its position in Celanese by 5,604.5% during the 1st quarter. BlackRock Inc. now owns 7,632,901 shares of the basic materials company’s stock valued at $685,818,000 after purchasing an additional 7,499,096 shares during the period. Boston Partners purchased a new position in Celanese during the 1st quarter valued at about $200,091,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Celanese during the 4th quarter valued at about $148,488,000. Finally, JPMorgan Chase & Co. increased its position in Celanese by 335.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,247,203 shares of the basic materials company’s stock valued at $201,910,000 after purchasing an additional 1,731,282 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

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Celanese Company Profile

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.

Analyst Recommendations for Celanese (NYSE:CE)

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