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Celanese (CE) to Expand Capacity and Utilize Recycled CO2
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Celanese Corporation (CE - Free Report) recently announced that its Texas facility will utilize carbon dioxide (CO2), as an alternate feedstock in methanol production. Methanol is an integral raw material in the production of various acetyls products, including acetic acid, vinyl acetate monomer, ethyl acetate and other derivatives.
Sustainable methanol is expected to be produced using the carbon capture and reuse process with a high capital efficiency at competitive pricing through the expansion of the company’s Fairway joint venture. Fairway Methanol LLC, the methanol production unit at the Clear Lake facility, is a manufacturing joint venture between Celanese and Mitsui & Co., Ltd., and will contribute to the sustainability targets of both companies.
Carbon dioxide capture and reuse reflects on the company’s dedication toward sustainability.
Celanese is committed toward protecting the Earth’s natural resources and helping its partners and customers do the same. The work it is doing with recycled CO2 at its Clear Lake facility is a significant step for Celanese to preserve the environment as well as be a responsible community partner in the reduction of carbon waste and emissions, the company noted.
Shares of Celanese have surged 107.4% in the past year compared with 65.1% rise of the industry.
Celanese’s outlook for 2021 adjusted earnings is pegged at $11.00-$11.50 per share. The company stated that it also expects adjusted earnings of roughly $3 per share for the first quarter. It expects this momentum to continue through the first half of 2021 as increased demand for Acetyl Chain and Engineered Materials products is met. Celanese is uniquely positioned to reliably supply markets, which it projects will remain tight in mid-year post the winter storm.
Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , Ashland Global Holdings Inc. (ASH - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 107.8% for the current fiscal. The company’s shares have surged 155.4% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ashland has an expected earnings growth rate of 83.2% for the current fiscal. The company’s shares have gained 78% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have skyrocketed 324.6% in the past year. It currently flaunts a Zacks Rank #1.
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Celanese (CE) to Expand Capacity and Utilize Recycled CO2
Celanese Corporation (CE - Free Report) recently announced that its Texas facility will utilize carbon dioxide (CO2), as an alternate feedstock in methanol production. Methanol is an integral raw material in the production of various acetyls products, including acetic acid, vinyl acetate monomer, ethyl acetate and other derivatives.
Sustainable methanol is expected to be produced using the carbon capture and reuse process with a high capital efficiency at competitive pricing through the expansion of the company’s Fairway joint venture. Fairway Methanol LLC, the methanol production unit at the Clear Lake facility, is a manufacturing joint venture between Celanese and Mitsui & Co., Ltd., and will contribute to the sustainability targets of both companies.
Carbon dioxide capture and reuse reflects on the company’s dedication toward sustainability.
Celanese is committed toward protecting the Earth’s natural resources and helping its partners and customers do the same. The work it is doing with recycled CO2 at its Clear Lake facility is a significant step for Celanese to preserve the environment as well as be a responsible community partner in the reduction of carbon waste and emissions, the company noted.
Shares of Celanese have surged 107.4% in the past year compared with 65.1% rise of the industry.
Celanese’s outlook for 2021 adjusted earnings is pegged at $11.00-$11.50 per share. The company stated that it also expects adjusted earnings of roughly $3 per share for the first quarter. It expects this momentum to continue through the first half of 2021 as increased demand for Acetyl Chain and Engineered Materials products is met. Celanese is uniquely positioned to reliably supply markets, which it projects will remain tight in mid-year post the winter storm.
Celanese Corporation Price and Consensus
Celanese Corporation price-consensus-chart | Celanese Corporation Quote
Zacks Rank & Key Picks
Celanese currently carries a Zacks Rank #2 (Buy).
Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , Ashland Global Holdings Inc. (ASH - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 107.8% for the current fiscal. The company’s shares have surged 155.4% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ashland has an expected earnings growth rate of 83.2% for the current fiscal. The company’s shares have gained 78% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have skyrocketed 324.6% in the past year. It currently flaunts a Zacks Rank #1.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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