) hit a new 52-week high of $61.98 on May 2 and eventually closed
at $61.18. The company's long-term estimated earnings per share
(EPS) growth rate is 8.7%. Average volume of shares traded over
the last three months was roughly 1,059K.
Celanese posted strong first-quarter 2014 results on Apr 21.
It reported adjusted earnings (excluding one-time items) of $1.33
per share, up 16.7% from $1.14 per share reported in the year-ago
quarter. The results topped the Zacks Consensus Estimate of
Profit from continued operations (as reported) came in at
$1.25 per share in the first quarter, surging roughly 42% from 88
cents per share posted in the prior-year quarter.
Sales in the quarter were $1,705 million, up 6.2% year over
year, surpassing the Zacks Consensus Estimate of $1,682 million.
Celanese's strong presence in emerging markets will enable it to
deliver incremental earnings in 2014. The company has taken up
cost-cutting measures and the necessary steps to run its plants
better and counter weak demand. Moreover, Celanese continues to
generate strong cash flows and remains focused on returning value
to its shareholders.
Celanese is aggressively expanding its capacity in the emerging
Asian markets. Its expansion initiatives in China are expected to
support earnings growth. Celanese's integrated chemical complex
in Nanjing, China, serves as a base for expansion in Asia,
supporting the region's increasing demand.
For 2014, Celanese expects earnings to be driven by
company-specific initiatives including innovation of new products
and enhancement of efficiencies through productivity, and expects
earnings growth of 12% to 14% in 2014. These initiatives are
expected to drive earnings growth in 2014.
Celanese currently carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Other chemical stocks worth considering include
Compass Minerals International Inc.
Eastman Chemical Co.
L'Air Liquide SA
). While Compass Minerals International carries a Zacks Rank #1
(Strong Buy), Eastman Chemical and L'Air Liquide retain a Zacks
Rank #2 (Buy).
AIR LIQUIDE-ADR (AIQUY): Get Free Report
CELANESE CP-A (CE): Free Stock Analysis
COMPASS MINERLS (CMP): Free Stock Analysis
EASTMAN CHEM CO (EMN): Free Stock Analysis
To read this article on Zacks.com click here.