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Celanese (CE) Set to Increase Prices of Selective Products
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Celanese Corporation (CE - Free Report) will raise the list and off-list selling prices of a few products. The price hike will be effective on or after Jun 1, 2018 or as contracts permit.
The company will raise the price of Vinyl Acetate Ethylene, VAM Homopolymers, VAM Copolymers, Styrene Acrylics and Pure Acrylics by 5% each in the United States, Canada and South America. Also, it will increase the price of MIBC and MIBK by 7 cents per pound in North America. In South America, the prices of the same products will be hiked by $150/MT.
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 33.8%, the industry gained roughly 15%.
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 a year ago and topped the Zacks Consensus Estimate of $2.36.
Revenues jumped roughly 26% year over year to $1,851 million, 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 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%.
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.
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Celanese (CE) Set to Increase Prices of Selective Products
Celanese Corporation (CE - Free Report) will raise the list and off-list selling prices of a few products. The price hike will be effective on or after Jun 1, 2018 or as contracts permit.
The company will raise the price of Vinyl Acetate Ethylene, VAM Homopolymers, VAM Copolymers, Styrene Acrylics and Pure Acrylics by 5% each in the United States, Canada and South America. Also, it will increase the price of MIBC and MIBK by 7 cents per pound in North America. In South America, the prices of the same products will be hiked by $150/MT.
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 33.8%, the industry gained roughly 15%.
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 a year ago and topped the Zacks Consensus Estimate of $2.36.
Revenues jumped roughly 26% year over year to $1,851 million, 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 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%.
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. 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.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>