Chemical and advanced materials maker, Celanese Corporation (CE - Free Report) has announced its decision to raise the list and off-list selling prices of acetic acid by RMB100/MT in China. The rise in price will be effective immediately, or as contracts permit.
Earlier this month, Celanese announced its decision to raise the list and off-list selling prices of Vinyl Acetate Monomer, effective Jun 1, 2016, or as contracts allow. The company is increasing the price by 2 cents per pound in the U.S. and Canada, by $50 per metric ton in Mexico, Central and South America, and by €50 per metric ton in Europe.
Global growth remains sluggish while raw materials face deflationary trends in a world under severe geopolitical strain. On the brighter side, demand in China has picked up but is still under pressure, while demand in Europe and Asia remains modest.
Meanwhile, Celanese is focused on increasing shareholder value. Last month, the company revised its outlook for 2016 and now expects adjusted earnings per share to increase 8–10%, up from 5–10% projected earlier. If the economy recovers in the second half of the year, the company may be able to touch the high end of the revised outlook.
Celanese’s adjusted earnings for the first quarter were $1.83 per share, indicating a 6% increase from the prior-year quarter. Earnings also beat the Zacks Consensus Estimate of $1.52. Although revenues fell roughly 3% year over year to $1,404 million in the quarter, the figure beat the Zacks Consensus Estimate.
Celanese currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the chemicals industry include Innophos Holdings Inc , Innospec Inc. (IOSP - Free Report) and Asahi Kasei Corp. (AHKSY - Free Report) , each sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Chemical and advanced materials maker, Celanese Corporation (CE - Free Report) has announced its decision to raise the list and off-list selling prices of acetic acid by RMB100/MT in China. The rise in price will be effective immediately, or as contracts permit.
Earlier this month, Celanese announced its decision to raise the list and off-list selling prices of Vinyl Acetate Monomer, effective Jun 1, 2016, or as contracts allow. The company is increasing the price by 2 cents per pound in the U.S. and Canada, by $50 per metric ton in Mexico, Central and South America, and by €50 per metric ton in Europe.
Global growth remains sluggish while raw materials face deflationary trends in a world under severe geopolitical strain. On the brighter side, demand in China has picked up but is still under pressure, while demand in Europe and Asia remains modest.
Meanwhile, Celanese is focused on increasing shareholder value. Last month, the company revised its outlook for 2016 and now expects adjusted earnings per share to increase 8–10%, up from 5–10% projected earlier. If the economy recovers in the second half of the year, the company may be able to touch the high end of the revised outlook.
Celanese’s adjusted earnings for the first quarter were $1.83 per share, indicating a 6% increase from the prior-year quarter. Earnings also beat the Zacks Consensus Estimate of $1.52. Although revenues fell roughly 3% year over year to $1,404 million in the quarter, the figure beat the Zacks Consensus Estimate.
Celanese currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the chemicals industry include Innophos Holdings Inc , Innospec Inc. (IOSP - Free Report) and Asahi Kasei Corp. (AHKSY - Free Report) , each sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on CE - FREE
Get the latest research report on AHKSY - FREE
Get the latest research report on IOSP - FREE