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Celanese (CE) to Increase Price of Vinyl Acetate Monomer

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Celanese Corporation (CE - Free Report) announced that it will increase the list and off-list selling price of Vinyl Acetate Monomer. The price hike is effective immediately or as contracts permit and are incremental to any earlier announced price increases.
 
The company will raise the price of Vinyl Acetate Monomer in Asia (outside China) by $50/MT. Price of the product in China will be increased by ¥200/MT.
 
Celanese is taking appropriate pricing actions amid a volatile raw material pricing environment. Pricing improvement drove margins in its Acetyl Chain unit in second-quarter 2017.
 
Celanese has outperformed the industry over the last three months. The company’s shares have moved up around 16.8% over this period, compared with roughly 4.5% gain recorded by the industry.
 
Celanese kept its earnings streak alive with a beat in second-quarter 2017. The company logged adjusted earnings of $1.79 per share for the quarter, topping the Zacks Consensus Estimate of $1.74. Celanese sees adjusted earnings per share to increase 9-11% in 2017.
 
Celanese’s strategic measures including cost savings through productivity actions and pricing initiatives are expected to lend support to its earnings in 2017. The company is also likely to gain from capacity expansion and growth initiatives like acquisitions. Moreover, Celanese remains focused on returning value to shareholders. 
 
Celanese Corporation Price and Consensus
 
 

Celanese Corporation Price and Consensus | Celanese Corporation Quote

Zacks Rank & Key Picks

Celanese currently carries a Zacks Rank #3 (Hold).

Some better-ranked companies in the chemical space include BASF SE (BASFY - Free Report) , The Chemours Company (CC - Free Report) and Kronos Worldwide (KRO - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

BASF has an expected long-term earnings growth of 8.6%.

Chemours has an expected long-term earnings growth of 15.5%.

Kronos Worldwide has an expected long-term earnings growth of 5%.

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