Celanese Corp. (CE) Short Interest Update
Celanese Corp. (NYSE:CE) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 2,618,567 shares, a growth of 44.6% from the August 31st total of 1,811,442 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average trading volume of 791,630 shares, the days-to-cover ratio is presently 3.3 days.
A number of equities analysts have weighed in on CE shares. Zacks Investment Research lowered Celanese Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Jefferies Group restated a “buy” rating on shares of Celanese Corp. in a research note on Tuesday, August 23rd. Nomura reiterated a “hold” rating on shares of Celanese Corp. in a report on Tuesday, July 12th. Citigroup Inc. cut their price objective on Celanese Corp. from $82.00 to $81.00 and set a “buy” rating for the company in a report on Friday, July 15th. Finally, Royal Bank Of Canada cut their price objective on Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $73.83.
Shares of Celanese Corp. (NYSE:CE) opened at 65.86 on Thursday. The firm has a 50-day moving average price of $64.20 and a 200 day moving average price of $67.30. Celanese Corp. has a 12-month low of $55.07 and a 12-month high of $74.55. The stock has a market cap of $9.53 billion, a PE ratio of 28.60 and a beta of 1.61.
Celanese Corp. (NYSE:CE) last issued its earnings results on Monday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.03. Celanese Corp. had a return on equity of 30.07% and a net margin of 6.20%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The business’s revenue was down 8.5% compared to the same quarter last year. Equities research analysts expect that Celanese Corp. will post $6.54 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Societe Generale purchased a new stake in shares of Celanese Corp. during the second quarter valued at about $111,000. Bessemer Group Inc. boosted its stake in shares of Celanese Corp. by 22.5% in the first quarter. Bessemer Group Inc. now owns 1,964 shares of the company’s stock valued at $129,000 after buying an additional 361 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Celanese Corp. during the second quarter valued at about $133,000. Advisor Group Inc. purchased a new stake in shares of Celanese Corp. during the second quarter valued at about $152,000. Finally, Mizuho Asset Management Co. Ltd. boosted its stake in shares of Celanese Corp. by 123.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,339 shares of the company’s stock valued at $153,000 after buying an additional 1,290 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.
About Celanese Corp.
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.
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