Celanese Corp. (NYSE:CE) was upgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a report issued on Wednesday, The Fly reports.

CE has been the subject of several other research reports. Zacks Investment Research upgraded Celanese Corp. from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Friday, October 21st. Jefferies Group restated a “buy” rating on shares of Celanese Corp. in a report on Friday, August 12th. Nomura set a $77.00 price objective on Celanese Corp. and gave the company a “hold” rating in a research note on Wednesday, October 19th. KeyCorp assumed coverage on Celanese Corp. in a research note on Thursday, October 6th. They issued an “overweight” rating and a $80.00 price objective for the company. Finally, Citigroup Inc. lowered Celanese Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $77.00 to $71.00 in a research note on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $73.96.

Analyst Recommendations for Celanese Corp. (NYSE:CE)

Shares of Celanese Corp. (NYSE:CE) opened at 77.16 on Wednesday. The stock has a market capitalization of $11.05 billion, a PE ratio of 25.64 and a beta of 1.22. The company has a 50-day moving average price of $72.72 and a 200 day moving average price of $68.26. Celanese Corp. has a 52 week low of $55.07 and a 52 week high of $79.30.

Celanese Corp. (NYSE:CE) last released its quarterly earnings results on Monday, October 17th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.06. The business earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Celanese Corp. had a return on equity of 30.69% and a net margin of 8.17%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 EPS. Equities analysts forecast that Celanese Corp. will post $6.60 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, October 31st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Thursday, October 27th. Celanese Corp.’s dividend payout ratio (DPR) is presently 47.84%.

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In other news, SVP Gjon N. Nivica, Jr. sold 25,000 shares of Celanese Corp. stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $71.36, for a total value of $1,784,000.00. Following the transaction, the senior vice president now directly owns 51,124 shares in the company, valued at approximately $3,648,208.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lori A. Johnston sold 83,829 shares of Celanese Corp. stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $72.30, for a total value of $6,060,836.70. Following the completion of the transaction, the chief accounting officer now owns 109,645 shares in the company, valued at $7,927,333.50. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CE. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Celanese Corp. by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 448,405 shares of the company’s stock worth $29,348,000 after buying an additional 6,859 shares in the last quarter. Capital Fund Management S.A. increased its position in shares of Celanese Corp. by 587.4% in the second quarter. Capital Fund Management S.A. now owns 272,328 shares of the company’s stock worth $17,824,000 after buying an additional 232,710 shares in the last quarter. Evercore Wealth Management LLC increased its position in shares of Celanese Corp. by 0.7% in the second quarter. Evercore Wealth Management LLC now owns 600,944 shares of the company’s stock worth $39,332,000 after buying an additional 4,048 shares in the last quarter. Affinity Investment Advisors LLC increased its position in shares of Celanese Corp. by 23.4% in the second quarter. Affinity Investment Advisors LLC now owns 250,463 shares of the company’s stock worth $16,393,000 after buying an additional 47,573 shares in the last quarter. Finally, Vanguard Group Inc. increased 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 96.48% of the company’s stock.

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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