Celanese Corporation
CE
recently introduced a sustainable polyacetal (POM) product — POM ECO-B — that will support growing demand for materials with renewable content and lower environmental impact.
POM ECO-B will enable customers to lower carbon dioxide emission in end-use products and shift toward renewable content. Celanese’s latest offering has a strong value proposition for customers in the consumer products, automotive, and medical device space where reduction in carbon dioxide footprint or renewable content is vital.
Further, Celanese said that POM ECO-B contains up to 97% bio-content that reduces carbon dioxide footprint per kilogram of POM polymer by more than 50% without impacting properties or need for requalification. The company is committed to boost its specialty materials product offerings and capabilities by investing in sustainable product developments.
Celanese’s shares have gained 7.8% in the past year compared with the
industry
’s 4.7% rise.
In October, Celanese announced that global demand during the third quarter progressed toward recovery across most of its end markets. The company is assessing the impact of the resurgence of COVID-19 across various regions on its businesses. It expects the momentum witnessed in the third quarter to continue in the fourth quarter. This is expected to partly offset various headwinds including a major turnaround at its Frankfurt POM facility as well as normal seasonality in December.
The company expects adjusted earnings of around $7-$7.10 per share for 2020. Celanese is focused on controllable actions to drive growth next year amid uncertainties, including production planning, productivity and disciplined capital deployment.
Zacks Rank & Key Picks
Celanese currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are
Agnico Eagle Mines Limited
AEM
,
Barrick Gold Corporation
GOLD
and
New Gold Inc.
NGD
. While Agnico Eagle sports a Zacks Rank #1 (Strong Buy), New Gold and Barrick carry a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Agnico Eagle has an expected earnings growth rate of 103.1% for 2020. Its shares have returned 11.3% in the past year.
Barrick has an expected earnings growth rate of 115.7% for 2020. The company’s shares have gained 45.4% in the past year.
New Gold has an expected earnings growth rate of 100% for 2020. The company’s shares have surged 119.5% in the past year.
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