Celanese Corporation (CE - Free Report) is set to hike the list and off-list selling prices for MIBC and MIBK acetyls products. The hike is effective Jun 1, 2019 or as contracts permit.
In the United States and Canada, prices of MIBC and MIBK products will increase by 7 cents per pound. The prices of these products in Mexico and South America will increase by $155 per metric ton (MT). In Asia, the prices for MIBC will rise by $100 per MT.
Celanese is undertaking price-increase initiatives in the wake of raw material cost inflation. The company’s strategic measures including operational cost savings through productivity actions and price hike initiatives are likely to provide an impetus to its 2019 earnings.
Celanese’s shares have lost 12.1% over a year, against the industry’s 1.2% rise.
The company’s adjusted earnings were $2.62 a share in the first quarter, down from $2.79 in the year-ago quarter. Nevertheless, the figure topped the Zacks Consensus Estimate of $2.49.
The company backed its adjusted earnings per share guidance of roughly $10.50 for 2019, considering that underlying fundamentals will start to improve later in the year.
The company does not expect improvement in demand in the second quarter. It anticipates second-quarter performance to be similar to first-quarter levels. Celanese will continue to invest in its businesses and further expand capability to boost growth and shareholders’ value.
Zacks Rank & Key Picks
Celanese currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Materion Corporation (MTRN - Free Report) , Fortescue Metals Group Ltd. (FSUGY - Free Report) and AngloGold Ashanti Limited (AU - Free Report) , all currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Materion has an expected earnings growth rate of 23.1% for 2019. The company’s shares have gained 18.1% in the past year.
Fortescue Metals has an impressive projected earnings growth rate of 101.5% for the current year. The company’s shares have surged 73.5% in a year’s time.
AngloGold has an estimated earnings growth rate of 86.8% for the current year. Its shares have rallied 40% in the past year.
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Celanese Corporation (CE - Free Report) is set to hike the list and off-list selling prices for MIBC and MIBK acetyls products. The hike is effective Jun 1, 2019 or as contracts permit.
In the United States and Canada, prices of MIBC and MIBK products will increase by 7 cents per pound. The prices of these products in Mexico and South America will increase by $155 per metric ton (MT). In Asia, the prices for MIBC will rise by $100 per MT.
Celanese is undertaking price-increase initiatives in the wake of raw material cost inflation. The company’s strategic measures including operational cost savings through productivity actions and price hike initiatives are likely to provide an impetus to its 2019 earnings.
Celanese’s shares have lost 12.1% over a year, against the industry’s 1.2% rise.
The company’s adjusted earnings were $2.62 a share in the first quarter, down from $2.79 in the year-ago quarter. Nevertheless, the figure topped the Zacks Consensus Estimate of $2.49.
The company backed its adjusted earnings per share guidance of roughly $10.50 for 2019, considering that underlying fundamentals will start to improve later in the year.
The company does not expect improvement in demand in the second quarter. It anticipates second-quarter performance to be similar to first-quarter levels. Celanese will continue to invest in its businesses and further expand capability to boost growth and shareholders’ value.
Zacks Rank & Key Picks
Celanese currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Materion Corporation (MTRN - Free Report) , Fortescue Metals Group Ltd. (FSUGY - Free Report) and AngloGold Ashanti Limited (AU - Free Report) , all currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Materion has an expected earnings growth rate of 23.1% for 2019. The company’s shares have gained 18.1% in the past year.
Fortescue Metals has an impressive projected earnings growth rate of 101.5% for the current year. The company’s shares have surged 73.5% in a year’s time.
AngloGold has an estimated earnings growth rate of 86.8% for the current year. Its shares have rallied 40% in the past year.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
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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