Short Interest in Celanese Co. (NYSE:CE) Declines By 5.2%

Celanese Co. (NYSE:CEGet Free Report) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 4,750,000 shares, a drop of 5.2% from the May 15th total of 5,010,000 shares. Based on an average daily trading volume, of 665,300 shares, the days-to-cover ratio is currently 7.1 days. Approximately 4.4% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts have recently commented on CE shares. KeyCorp boosted their price objective on shares of Celanese from $176.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Tudor, Pickering, Holt & Co. downgraded shares of Celanese from a “buy” rating to a “sell” rating and set a $140.00 price objective for the company. in a research note on Thursday, February 22nd. Bank of America lowered their target price on Celanese from $147.00 to $144.00 and set an “underperform” rating on the stock in a research report on Monday, June 10th. StockNews.com upgraded Celanese from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Mizuho boosted their price target on Celanese from $161.00 to $173.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Celanese currently has a consensus rating of “Hold” and a consensus target price of $161.41.

Read Our Latest Stock Report on Celanese

Celanese Stock Performance

CE opened at $139.13 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 0.73. The business has a fifty day simple moving average of $152.72 and a 200 day simple moving average of $152.90. Celanese has a 1 year low of $105.15 and a 1 year high of $172.16. The company has a market capitalization of $15.20 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.56 and a beta of 1.34.

Celanese (NYSE:CEGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.17. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Research analysts expect that Celanese will post 11.39 EPS for the current year.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, April 29th were given a dividend of $0.70 per share. The ex-dividend date was Friday, April 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.01%. Celanese’s payout ratio is 15.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Johnson Financial Group Inc. bought a new position in Celanese in the 4th quarter valued at about $28,000. Asset Dedication LLC increased its stake in Celanese by 180.0% in the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 144 shares during the last quarter. Desjardins Global Asset Management Inc. raised its position in Celanese by 142.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in Celanese by 100.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 94 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Celanese in the 1st quarter valued at $31,000. Institutional investors own 98.87% of the company’s stock.

About Celanese

(Get Free Report)

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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