Celanese Co. (NYSE:CE – Get Rating) was the target of a significant increase in short interest in the month of December. As of December 30th, there was short interest totalling 2,730,000 shares, an increase of 28.8% from the December 15th total of 2,120,000 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 2.5 days.
Celanese Stock Up 4.3 %
Shares of NYSE CE opened at $121.59 on Friday. The company has a current ratio of 4.73, a quick ratio of 4.11 and a debt-to-equity ratio of 2.15. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 8.04 and a beta of 1.26. Celanese has a 12 month low of $86.71 and a 12 month high of $165.48. The stock has a 50-day moving average price of $107.14 and a two-hundred day moving average price of $105.59.
Celanese (NYSE:CE – Get Rating) last issued its earnings results on Thursday, November 3rd. The basic materials company reported $3.94 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.04). Celanese had a return on equity of 42.26% and a net margin of 17.20%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the firm posted $4.82 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts forecast that Celanese will post 16.08 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Celanese
Analysts Set New Price Targets
Several equities analysts have issued reports on CE shares. Royal Bank of Canada upgraded Celanese from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $98.00 to $125.00 in a research report on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft dropped their target price on Celanese from $110.00 to $105.00 in a research report on Thursday, November 10th. Robert W. Baird dropped their target price on Celanese from $180.00 to $120.00 in a research report on Monday, November 7th. Mizuho dropped their target price on Celanese from $108.00 to $107.00 and set a “neutral” rating for the company in a research report on Thursday, January 12th. Finally, UBS Group boosted their target price on Celanese from $124.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Celanese has an average rating of “Hold” and a consensus target price of $116.00.
Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities. The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.
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