Markets

Celanese (CE) to Increase Price of Vinyl Acetate Monomer

Tablet displaying intraday stock performance

Celanese CorporationCE announced that it will increase the list and off-list selling price of Vinyl Acetate Monomer. The price hike is effective immediately or as contracts permit and are incremental to any earlier announced price increases.

The company will raise the price of Vinyl Acetate Monomer in Asia (outside China) by $50/MT. Price of the product in China will be increased by ¥200/MT.

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 the last three months. The company's shares have moved up around 16.8% over this period, compared with roughly 4.5% 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

Celanese Corporation Price and Consensus | Celanese Corporation Quote

Zacks Rank & Key Picks

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

Some better-ranked companies in the chemical space include BASF SE BASFY , The Chemours Company CC and Kronos Worldwide KRO . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

BASF has an expected long-term earnings growth of 8.6%.

Chemours has an expected long-term earnings growth of 15.5%.

Kronos Worldwide has an expected long-term earnings growth of 5%.

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

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

BASF SE (BASFY): Free Stock Analysis Report

Celanese Corporation (CE): Free Stock Analysis Report

Kronos Worldwide Inc (KRO): Free Stock Analysis Report

Chemours Company (The) (CC): Free Stock Analysis Report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

BASFY KRO CE CC

Other Topics

Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More