Advertisement

Celanese Increases Price of Acetyl Intermediates in China

Celanese Corporation CE is raising the list and off-list selling prices of acetyl intermediates products in China. The price hike is applicable for orders shipped and is immediately effective or as contracts permit.

The company stated that the latest price hikes are incremental to any earlier announced increases.

It will increase the prices of acetic acid and vinyl acetate monomer by RMB 350 per metric ton each.

Moreover, the price of acetic anhydride is expected to increase by RMB 400 per metric ton. Also, the company will hike the price of vinyl-based emulsions by RMB 200 per metric ton.

Celanese’s shares have lost 14% in the past year against its industry’s 35.6% rise.

 

 

In the last month, the company noted that it expects to generate $300-$400 million of incremental cash on account of the actions that it is presently taking on productivity, working capital management and capital expenditure prioritization that enables it to offset challenges related to demand and earnings in 2020.

The company also suspended its earlier announced annual adjusted earnings per share guidance for 2020 due to uncertainties regarding the duration and impacts of the coronavirus pandemic.

Celanese Corporation Price and Consensus

 

Celanese Corporation Price and Consensus
Celanese Corporation Price and Consensus

Celanese Corporation price-consensus-chart | Celanese Corporation Quote

Zacks Rank & Stocks to Consider

Celanese currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the basic materials space are Agnico Eagle Mines Limited AEM, Newmont Corporation NEM and Barrick Gold Corporation GOLD, all carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Agnico Eagle has an expected earnings growth rate of 75.3% for 2020. The company’s shares have surged 59.6% in the past year.

Newmont has an expected earnings growth rate of 82.6% for 2020. Its shares have rallied 97.5% in the past year.

Barrick has a projected earnings growth rate of 64.7% for 2020. The company’s shares have rallied 120.3% in a year.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>


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
 
Newmont Corporation (NEM) : Free Stock Analysis Report
 
Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
 
Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
 
Celanese Corporation (CE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research