Celanese Co. (NYSE:CE – Get Free Report) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 5,190,000 shares, a growth of 5.9% from the August 31st total of 4,900,000 shares. Based on an average daily trading volume, of 908,500 shares, the days-to-cover ratio is presently 5.7 days. Approximately 4.8% of the shares of the stock are sold short.
Celanese Stock Performance
Shares of CE opened at $135.02 on Wednesday. The stock has a 50-day moving average of $129.45 and a 200-day moving average of $143.89. Celanese has a one year low of $110.76 and a one year high of $172.16. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.28 and a quick ratio of 0.74. The company has a market cap of $14.75 billion, a PE ratio of 7.43, a P/E/G ratio of 0.66 and a beta of 1.30.
Celanese (NYSE:CE – Get Free Report) last issued its earnings results on Thursday, August 1st. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.33). Celanese had a return on equity of 13.60% and a net margin of 18.24%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. Celanese’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts predict that Celanese will post 10.42 EPS for the current fiscal year.
Celanese Dividend Announcement
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. BMO Capital Markets lowered their price target on shares of Celanese from $142.00 to $138.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. KeyCorp cut their price target on Celanese from $180.00 to $178.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Wells Fargo & Company dropped their price objective on shares of Celanese from $180.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Robert W. Baird decreased their price target on shares of Celanese from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Bank of America reduced their price objective on shares of Celanese from $137.00 to $128.00 and set an “underperform” rating on the stock in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Celanese currently has a consensus rating of “Hold” and an average target price of $153.13.
Read Our Latest Analysis on CE
Insider Activity at Celanese
In other news, COO Scott A. Richardson sold 4,675 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $129.51, for a total value of $605,459.25. Following the completion of the transaction, the chief operating officer now owns 69,754 shares of the company’s stock, valued at $9,033,840.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.
Institutional Trading of Celanese
Several institutional investors and hedge funds have recently modified their holdings of CE. Sanctuary Advisors LLC bought a new stake in Celanese during the second quarter worth $1,434,000. New Century Financial Group LLC bought a new position in Celanese during the 2nd quarter valued at $1,247,000. Copperwynd Financial LLC boosted its holdings in Celanese by 10.0% during the 2nd quarter. Copperwynd Financial LLC now owns 4,745 shares of the basic materials company’s stock worth $670,000 after acquiring an additional 430 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Celanese by 157.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 46,576 shares of the basic materials company’s stock worth $6,283,000 after acquiring an additional 28,508 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in shares of Celanese in the second quarter valued at about $255,000. 98.87% of the stock is owned by hedge funds and other institutional investors.
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.
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