Celanese Corp. (CE) Short Interest Up 46.9% in August
Celanese Corp. (NYSE:CE) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,811,442 shares, a growth of 46.9% from the August 15th total of 1,233,049 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 938,429 shares, the short-interest ratio is currently 1.9 days.
Institutional investors have recently made changes to their positions in the company. Investec Asset Management LTD acquired a new position in shares of Celanese Corp. during the first quarter worth $105,163,000. Norges Bank acquired a new position in shares of Celanese Corp. during the fourth quarter worth $78,245,000. Wellington Management Group LLP raised its position in shares of Celanese Corp. by 7.4% in the first quarter. Wellington Management Group LLP now owns 7,599,679 shares of the company’s stock worth $497,779,000 after buying an additional 520,647 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Celanese Corp. during the first quarter worth $28,316,000. Finally, Vanguard Group Inc. raised its position in shares of Celanese Corp. by 3.5% in the second quarter. Vanguard Group Inc. now owns 11,043,208 shares of the company’s stock worth $722,778,000 after buying an additional 378,344 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.
Celanese Corp. (NYSE:CE) opened at 61.30 on Monday. Celanese Corp. has a 1-year low of $55.07 and a 1-year high of $74.55. The company has a 50 day moving average price of $64.78 and a 200-day moving average price of $67.30. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 26.62 and a beta of 1.85.
Celanese Corp. (NYSE:CE) last issued its quarterly earnings data on Monday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Celanese Corp. had a return on equity of 30.07% and a net margin of 6.20%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 EPS. On average, analysts forecast that Celanese Corp. will post $6.54 EPS for the current fiscal year.
A number of research analysts recently commented on CE shares. Royal Bank Of Canada decreased their price target on Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 28th. Zacks Investment Research upgraded Celanese Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. Citigroup Inc. cut Celanese Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $71.00 in a research report on Wednesday, September 7th. Morgan Stanley restated a “hold” rating and issued a $65.00 price target on shares of Celanese Corp. in a research report on Thursday, June 16th. Finally, Susquehanna started coverage on Celanese Corp. in a research report on Friday, July 1st. They issued a “positive” rating and a $80.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $73.83.
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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