Time New York: Fri 20 Oct 19:14 pm  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Celanese (CE) Announces Price Hike of Selective Products

Zacks

Celanese Corporation CE will hike the list and off-list selling prices of certain products. The price hike will be effective immediately or as contracts permit.

Prices of Ethyl Acetate will increase by ¥500/MT in China and by $80/MT in Asia outside China. Butyl Acetate price will rise by ¥300/MT in China and by $50/MT in Asia outside China. The company will increase the prices of Acetic Acid by ¥400/MT in China and by $80/MT in Asia outside China. Prices of Acetic Anhydride will be hiked by ¥450/MT in China and by $100/MT in Asia outside China.

Celanese is taking appropriate pricing actions amid a volatile raw material pricing environment. Pricing improvement drove margins in its Acetyl Chain unit in second-quarter 2017.

Celanese has outperformed the industry over a year. The company’s shares have moved up around 64.2% over this period compared with roughly 33.7% gain recorded by the industry.


Celanese kept its earnings streak alive with a beat in second-quarter 2017. The company logged adjusted earnings of $1.79 per share for the quarter, topping the Zacks Consensus Estimate of $1.74. Celanese sees adjusted earnings per share to increase 9-11% in 2017.

Celanese’s strategic measures including cost savings through productivity actions and pricing initiatives are expected to lend support to its earnings in 2017. The company is also likely to gain from capacity expansion and growth initiatives like acquisitions. Moreover, Celanese remains focused on returning value to shareholders.

Celanese Corporation Price and Consensus


Zacks Rank & Key Picks

Celanese currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the chemical space are The Chemours Company CC, FMC Corporation FMC and Air Products and Chemicals, Inc. APD.

Chemours has expected long-term earnings growth of 15.5% and sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

FMC has expected long-term earnings growth of 11.3% and flaunts a Zacks Rank #1.

Air Products has expected long-term earnings growth of 12.1% and carries a Zacks Rank #2 (Buy).

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 – Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 – Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>


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

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.