We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Celanese to Hike Prices of Long-Fiber Thermoplastic Products
Read MoreHide Full Article
Celanese Corporation (CE - Free Report) is raising the prices of polyamide-based long-fiber thermoplastic (PA66-LFT) and thermoplastic polyurethane long-fiber thermoplastic compounds (TPU-LFT). This hike will be effective on or after June 1, 2018, or as contracts permit.
The company will increase the price of Polyamide-based long-fiber thermoplastic grades by 10 cents per kg each in America and Asia and by €10 cents per kg in Europe. While, the price of thermoplastic polyurethane long-fiber thermoplastic grades will be raised by 35 cents per kg in America and Asia and by €35 cents per kg in Europe.
The company is taking appropriate pricing actions amid a volatile raw material pricing environment. Celanese’s strategic measures, including operational cost savings through productivity actions and pricing initiatives are likely to provide an impetus to its earnings in 2018.
Celanese has outperformed the industry in a year’s time. While shares of the company have moved up around 32.6%, the industry gained roughly 14.4%.
Celanese logged earnings from continuing operations of $2.68 per share for the first quarter, a roughly two-fold increase from $1.30 per share a year ago. Adjusted earnings of $2.79 per share surged 54% from $1.81 per share posted a year ago, topping the Zacks Consensus Estimate of $2.36.
Revenues jumped roughly 26% year over year to $1,851 million, also surpassing the Zacks Consensus Estimate of $1,696 million. The company benefited from gains across its Engineered Materials (EM) and Acetyl Chain units in the quarter. Improving industry fundamentals and the strength of the company’s commercial models also supported the results.
Celanese raised earnings guidance for 2018 based on strength across its Acetyl Chain and EM units. The company now envisions adjusted earnings per share to grow in the range of 20-25% year over year in 2018, up from its earlier view of 12-16% growth.
FMC Corp has an expected long-term earnings growth rate of 13.6%. Its shares have gained around 24.5% over a year.
Huntsman has an expected long-term earnings growth rate of 8.3%. Its shares have moved up around 28.1% over a year.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have gained around 22.3% over a year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Celanese to Hike Prices of Long-Fiber Thermoplastic Products
Celanese Corporation (CE - Free Report) is raising the prices of polyamide-based long-fiber thermoplastic (PA66-LFT) and thermoplastic polyurethane long-fiber thermoplastic compounds (TPU-LFT). This hike will be effective on or after June 1, 2018, or as contracts permit.
The company will increase the price of Polyamide-based long-fiber thermoplastic grades by 10 cents per kg each in America and Asia and by €10 cents per kg in Europe. While, the price of thermoplastic polyurethane long-fiber thermoplastic grades will be raised by 35 cents per kg in America and Asia and by €35 cents per kg in Europe.
The company is taking appropriate pricing actions amid a volatile raw material pricing environment. Celanese’s strategic measures, including operational cost savings through productivity actions and pricing initiatives are likely to provide an impetus to its earnings in 2018.
Celanese has outperformed the industry in a year’s time. While shares of the company have moved up around 32.6%, the industry gained roughly 14.4%.
Celanese logged earnings from continuing operations of $2.68 per share for the first quarter, a roughly two-fold increase from $1.30 per share a year ago. Adjusted earnings of $2.79 per share surged 54% from $1.81 per share posted a year ago, topping the Zacks Consensus Estimate of $2.36.
Revenues jumped roughly 26% year over year to $1,851 million, also surpassing the Zacks Consensus Estimate of $1,696 million. The company benefited from gains across its Engineered Materials (EM) and Acetyl Chain units in the quarter. Improving industry fundamentals and the strength of the company’s commercial models also supported the results.
Celanese raised earnings guidance for 2018 based on strength across its Acetyl Chain and EM units. The company now envisions adjusted earnings per share to grow in the range of 20-25% year over year in 2018, up from its earlier view of 12-16% growth.
Celanese Corporation Price and Consensus
Celanese Corporation Price and Consensus | Celanese Corporation Quote
Zacks Rank & Other Stocks to Consider
Celanese is a Zacks Rank #1 (Strong Buy) stock.
Some other top-ranked companies in the basic materials space worth considering are FMC Corporation (FMC - Free Report) , Huntsman Corporation (HUN - Free Report) and The Chemours Company (CC - 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.
FMC Corp has an expected long-term earnings growth rate of 13.6%. Its shares have gained around 24.5% over a year.
Huntsman has an expected long-term earnings growth rate of 8.3%. Its shares have moved up around 28.1% over a year.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have gained around 22.3% over a year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>