Celanese Co. (NYSE:CE) Short Interest Update
Development of the Celanese share price
Celanese shares opened at $101.53 on Friday. The company’s 50-day moving average price is $99.29 and its 200-day moving average price is $109.72. Celanese has a 12-month low of $86.71 and a 12-month high of $176.50. The company has a quick ratio of 4.11, a current ratio of 4.73 and a debt to equity ratio of 2.15. The company has a market cap of $11.01 billion, a P/E of 6.71 and a beta of 1.27.
Celanese (NYSE:CE – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The materials company reported $3.94 EPS for the quarter, missing the consensus estimate of $3.98 ($0.04). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a net margin of 17.20% and a return on equity of 42.26%. The company’s revenue for the quarter rose 1.5% year over year. In the same quarter last year, the company posted earnings per share of $4.82. On average, equity analysts are forecasting Celanese to post 16.08 EPS for the current fiscal year.
Celanese raises dividend
The company also recently announced a quarterly dividend, which was paid on Monday, November 14th. A dividend of $0.70 per share was paid to investors of record on Monday, October 31st. That equates to an annualized dividend of $2.80 and a yield of 2.76%. This is an increase from Celanese’s previous quarterly dividend of $0.68. The ex-dividend date was Friday October 28th. Celanese’s payout ratio is currently 18.51%.
Hedge funds rely on Celanese
Hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in Celanese by 92.6% in the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the $25,000 materials company after purchasing an additional 87 shares last quarter. Ronald Blue Trust Inc. bought a new position in Celanese valued at approximately $27,000 during the second quarter. Clear Street Markets LLC increased its stake in Celanese by 415.9% in the second quarter. Clear Street Markets LLC now owns 227 shares of the $27,000 materials company after purchasing an additional 183 shares last quarter. Cambridge Trust Co. increased its stake in Celanese by 137.5% in the first quarter. Cambridge Trust Co. now owns 247 shares of the $35,000 materials company after purchasing an additional 143 shares last quarter. Finally, SeaCrest Wealth Management LLC bought a new position in Celanese valued at about $33,000 during the second quarter. 93.34% of the shares are currently held by institutional investors.
Wall Street analyst ponders
A number of research companies have recently commented on CE. The Royal Bank of Canada lowered its target price on Celanese shares to $98.00 from $100.00 and gave the stock a “Sector Perform” rating in a research note on Tuesday, November 8th. Mizuho lowered its price target on Celanese shares to $108.00 from $116.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft lowered its price target on Celanese shares from $110.00 to $105.00 in a research note on Thursday, November 10. Credit Suisse Group lowered its target price on Celanese shares to USD 83.00 from USD 86.00 and rated the stock as “underperform” in a research note on Friday, November 4th. Finally, BMO Capital Markets lowered its price target on Celanese shares to $130.00 from $150.00 and gave the stock a “Outperform” rating in a research note on Wednesday, November 9th. Two analysts have rated the stock with a sell rating, seven with a hold rating and five with a buy rating. Based on data from MarketBeat.com, Celanese currently has a consensus rating of Hold and a consensus price target of $114.85.
About Celanese
(get rating)
Celanese Corporation, a technology and specialty materials company, manufactures and markets high-performance engineering polymers in the United States and internationally. The Company operates through three segments: Engineered Materials, Acetate Tow 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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