JPMorgan Chase & Co. has lowered its price target for Celanese Corporation (NYSE: CE) from $47.00 to $40.00, reflecting a cautious outlook on the basic materials company’s stock. This adjustment was communicated to investors in a recent research report, where JPMorgan maintained a neutral rating on the stock.
Several other analysts have also offered insights into Celanese’s market position. On July 3, Royal Bank of Canada reaffirmed a “sector perform” rating, increasing its target price to $63.00, up from $53.00. Meanwhile, Citigroup raised its target from $52.00 to $65.00 and maintained a neutral stance. In addition, Deutsche Bank Aktiengesellschaft set a target of $52.00 and classified the stock as a “buy,” while Barclays adjusted its target from $59.00 to $62.00, giving an “equal weight” rating.
Analysts’ assessments have resulted in a mixed outlook: one has rated the stock with a sell designation, eleven have assigned a hold rating, and six have given it a buy rating. According to MarketBeat, the overall consensus rating remains at “Hold,” with an average target price of $59.94.
Celanese Stock Performance and Financial Overview
On August 11, Celanese reported its latest earnings results. The company posted an earnings per share (EPS) of $1.44 for the quarter, exceeding the consensus estimate of $1.38 by $0.06. The firm’s revenue reached $2.53 billion, surpassing expectations of $2.50 billion, although it represented a 4.5% decline compared to the same quarter last year.
Celanese’s stock opened at $42.67 on Thursday, August 11. The company has a current ratio of 2.05, a quick ratio of 1.11, and a debt-to-equity ratio of 2.22. Over the past twelve months, the stock has fluctuated between a low of $36.29 and a high of $142.54. The 50-day moving average stands at $55.19, while the 200-day moving average is $53.96.
Dividend and Insider Activity
Celanese recently declared a quarterly dividend of $0.03 per share, which was paid on August 11 to shareholders on record as of July 29. This brings the annualized dividend to $0.12, resulting in a yield of 0.3%. The company’s dividend payout ratio is currently -0.81%, indicating a negative margin.
In notable insider activity, Senior Vice President Mark Christopher Murray purchased 1,479 shares of Celanese stock on May 23 at an average price of $52.18 per share, totaling approximately $77,174.22. Following this acquisition, Murray’s ownership increased by 10.57%, making his total holdings around $807,120.24. The transaction was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).
Institutional investors continue to show significant interest in Celanese. Recent changes include Altshuler Shaham Ltd acquiring shares valued at $25,000 in the fourth quarter, while Strengthening Families & Communities LLC increased its stake by 73.2% in the first quarter, now holding 440 shares. Overall, institutional investors currently own approximately 98.87% of the stock.
Celanese Corporation, known for its high-performance engineered polymers, operates primarily in the United States and internationally. The company specializes in chemicals and specialty materials, serving various sectors, including automotive, medical, and consumer electronics. As market dynamics evolve, Celanese’s ability to adapt will be crucial for its future performance in the competitive materials landscape.
