Chemical and advanced materials maker, Celanese Corporation (CE - Free Report) has decided to raise the list and off-list selling prices of both Ateva EVA and LDPE polymers by 5 cents in North and South America. The rise in price will be effective from Jul 1, 2016, or as contracts permit.
Recently, Celanese also decided to raise the list and off-list selling prices of Acetic Acid by €30 per metric ton (MT) in the European region. The price hike will be effective from Jul 1, 2016, or as contracts permit.
Global growth remains sluggish, while raw materials face deflationary trends in a world under severe geopolitical strain. However, emulsions in Europe have started performing better and the high-season for the company is approaching in the region. Demand in China has also picked up and the figure is improving despite less-than-satisfactory sales in both regions.
Celanese’s adjusted earnings for first-quarter 2016 were $1.83 per share, indicating a 6% increase from the prior-year quarter. Earnings per share also beat the Zacks Consensus Estimate of $1.52. Although revenues dropped roughly 3% year over year to $1,404 million in the quarter, the figure beat the Zacks Consensus Estimate.
Celanese also raised its outlook for 2016. It now expects an increase of 8%−10% in earnings per share, compared to 5%−10% growth stated earlier. The company intends to pursue commercial discipline, excellence in operation and productivity, to survive and grow in the current environment.
Celanese currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the chemicals industry include Innophos Holdings Inc , Albemarle Corporation (ALB - Free Report) and Asahi Kasei Corp. (AHKSY - Free Report) , all sporting a Zacks Rank #1 (Strong Buy).
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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.
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Chemical and advanced materials maker, Celanese Corporation (CE - Free Report) has decided to raise the list and off-list selling prices of both Ateva EVA and LDPE polymers by 5 cents in North and South America. The rise in price will be effective from Jul 1, 2016, or as contracts permit.
Recently, Celanese also decided to raise the list and off-list selling prices of Acetic Acid by €30 per metric ton (MT) in the European region. The price hike will be effective from Jul 1, 2016, or as contracts permit.
Global growth remains sluggish, while raw materials face deflationary trends in a world under severe geopolitical strain. However, emulsions in Europe have started performing better and the high-season for the company is approaching in the region. Demand in China has also picked up and the figure is improving despite less-than-satisfactory sales in both regions.
Celanese’s adjusted earnings for first-quarter 2016 were $1.83 per share, indicating a 6% increase from the prior-year quarter. Earnings per share also beat the Zacks Consensus Estimate of $1.52. Although revenues dropped roughly 3% year over year to $1,404 million in the quarter, the figure beat the Zacks Consensus Estimate.
Celanese also raised its outlook for 2016. It now expects an increase of 8%−10% in earnings per share, compared to 5%−10% growth stated earlier. The company intends to pursue commercial discipline, excellence in operation and productivity, to survive and grow in the current environment.
Celanese currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the chemicals industry include Innophos Holdings Inc , Albemarle Corporation (ALB - Free Report) and Asahi Kasei Corp. (AHKSY - Free Report) , all 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 >>
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