Celanese Corporation (NYSE:CE) is set to increase the price of vinyl acetate-based emulsions by ¥300/MT in China. The price hike will be effective immediately.
Celanese is taking appropriate pricing actions amid a volatile raw material pricing environment. Pricing improvement drove margins in Acetyl Chain unit in third-quarter 2017.
Celanese has outperformed the industry over the last six months. The company’s shares have moved up around 12.8% compared with roughly 18.5% growth recorded by the industry.
The company anticipates business and productivity momentum to offset fourth-quarter weakness. Celanese is optimistic that it can grow adjusted earnings per share for 2017 toward the top end of its earlier announced guidance range of 9-11%.
Celanese’s strategic measures including operational cost savings through productivity actions and pricing initiatives are likely to lend support to earnings in 2017. The company is also poised to gain from growth initiatives that include acquisitions. Moreover, Celanese remains focused on returning value to shareholders.
Celanese Corporation Price and Consensus
Zacks Rank & Stocks to Consider
Celanese currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Kronos Worldwide Inc. (NYSE:KRO) , Koppers Holding Inc. (NYSE:KOP) and Huntsman Corporation (NYSE:HUN) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kronos Worldwide has expected long-term earnings growth of 5%. Its shares have skyrocketed 99.6% yearly.
Koppers has expected long-term earnings growth of 18%. Shares of the company have rallied 26.7% yearly.
Huntsman has expected long-term earnings growth of 8%. Its shares have soared 78.8% year to date.
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Celanese Corporation (CE): Free Stock Analysis Report
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Huntsman Corporation (HUN): Free Stock Analysis Report
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